AUD/USD bulls approach 0.7000 on firmer Aussie Trade Balance, focus on Taiwan, NFP – by anilpanchal7 AUDUSD RiskAppetite China Fed ForeignTrade
Trade Balance data from the Australian Bureau of Statistics while cheering a softer US dollar amid a sluggish Asian session on Thursday.
That said, Australia’s Trade Balance rose to 17,670M in June, well beyond the 14,000M forecast and 15,965M prior. However, Imports and Exports both eased to 0.7% and 5.1% during the stated month versus respective priors of 5.8% and 9.5%. It should be noted that Bloomberg’s news suggesting a lack of support for the US-Taiwan ties also seems to help the AUD/USD prices. The reason could be linked to the Democratic Party members’ ability to stop the US policymakers from mingling more with Taiwan which China doesn’t like, the same could help the market sentiment and the Aussie pair.
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