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AUD/USD rises to near 0.6620 despite weak Australian Trade Balance data
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FXStreet Forex & Commodities News
The AUD/USD pair trades 0.15% to near 0.6625 during the European trading session on Thursday.
The Aussie pair gains despite the Australian Trade Balance data for August coming in weaker than projected.
Theoretically, soft Trade Balance data weighs on the Australian Dollar (AUD) as the nation’s export market contributes significantly to its overall growth.
Going forward, market expectations for the Reserve Bank of Australia’s (RBA) monetary policy outlook will remain key trigger behind the next move in the Australian Dollar.
“Components of the monthly CPI are a little higher than expected, and inflation is not running away,” RBA Governor Michele Bullock said at a post-meeting press conference.