AUD/USD climbed to 0.7010 as a wider Australian trade surplus and a weakening US Dollar bolstered the pair for the second straight day.
AUD/USD rose for a second consecutive day to around 0.7010 during Asian hours on Thursday after Australia’s Trade Balance report showed a wider surplus, supporting the Australian dollar. A wider trade surplus can lift AUD by improving Australia’s external position, while the article also notes the US dollar dipped. The lack of specific trade figures and the possibility that the move is mostly USD-driven temper the signal.
The article points to Australia’s wider trade surplus and a dip in the US dollar.
It is trading around 0.7010 during Asian hours on Thursday.
The Australian Dollar extended its gains for a second consecutive session, climbing to the 0.7010 level during Thursday's Asian trading hours. The move follows the release of Australia's latest trade balance data, which revealed a wider-than-expected surplus, providing a tailwind for the currency against a softer US Dollar.
The pair is rising due to a wider trade surplus reported by Australia and a simultaneous dip in the US Dollar.
The pair is currently trading around the 0.7010 level during Asian market hours.