AUD/USD trades lower at 0.6945 as a shrinking trade surplus weighs on the Aussie, signaling potential short-term bearish momentum against the US Dollar.
AUD/USD declined below 0.6959 as Australia's trade surplus shrank sharply, weakening the Australian Dollar.
The Australian Dollar faces downward pressure, trading near 0.6945 during Thursday's Asian session. The decline follows the release of weaker-than-expected trade balance data, which highlights a narrowing surplus for the Australian economy.
The Australian Dollar is weakening because Australia's latest trade balance data showed a significant contraction in the trade surplus, which negatively impacts the currency's valuation.