Aussie dollar drifts lower ahead of Trade Balance figures

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In short

  1. The Australian dollar falls below 69 cents against the US dollar
  2. Mixed results against other major currencies
  3. Australian and Chinese trade balance data including imports and exports due out later in the week

AUD to USD exchange rates

Time Open Low High
Today 0.6881
In the last week 0.6871 0.6929
In the last month 0.6714 0.6929

Overnight the AUD/USD drifted below 69 cents for the second time this week. It wasn't all bad news for the local currency though. It remained broadly unchanged against the Euro, British Pound and New Zealand Dollar.

With the RBA meeting done for another month, the markets attention will turn to the Trade Balance data due out in Australia and China.

A stronger than expected trade balance could help the AUD move higher above 69 cents. A good result from the Chinese data could also have a positive effect on the Australian dollar given how strongly the two economies are tied.

Outside of economic data, Brexit and trade relations are still the most influential events on currency exchange rates at the moment.

Up Next

With Australian retail sales figures and the RBA meeting done and dusted all that remains are the trade data later in the week.
Overseas, the central bank in the UK is also meeting but no change is expected. Closer to home, New Zealand will release its employment data while Chinese trade data will be closely watched and could have an impact on the Australian dollar.

Country Day Event
Australia Monday Retail Sales figures
Australia Tuesday RBA meeting
New Zealand Wednesday Labour Force data
United Kingdom Thursday Bank of England meeting
China Friday Trade balance figures including imports and exports
Updated: Posted on