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Australian trade surplus resulted at 7526 million, missing the expected 9700 million.
Manufacturing output in Australia held within expansion levels in March.
AUD/USD bounced from a fresh 2021 low at 0.7531, upside still limited.
The AUD/USD pair plummeted to 0.7531, its lowest since last December, but trimmed losses and managed to post a modest daily advance. The Australian currency moved alongside equities, as Asian indexes closed in the red, but European and American ones advanced, the latter on the back of encouraging US data.
Australia published the March AIG Performance of Manufacturing Index, which printed at 59.9, better than the previous 58.8. The Commonwealth Bank Manufacturing PMI for the same month printed at 56.8 from 56.9 in February. The country also published the February Trade Balance, which resulted at 7526 million, missing the expected 9700 million, as exports were down 1% while imports increased 5%.
AUD/USD Forecast: Maintains Its Bearish Stance In The Near-Term benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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The RBA is expected to maintain its monetary policy unchanged.
Services output in Australia improved by more than expected in January.
AUD/USD is technically poised to extend its decline, but RBA expected to be hawkish.
The AUD/USD pair fell to an intraday low of 0.7605, but is finishing the day little changed in the 0.7630 area. The aussie fell at the opening as a hotel guard who sparked a 5-day lockdown in the Perth area was confirmed to have the UK coronavirus strain. Australia has been quite fast to respond to single contagions, but a paralyzed region always spurs concerns.
12/16/2020 8:52:58 PM GMT
AUD/USD Current Price: 0.7574
Australian growth-related figures came in better than anticipated.
Australia November employment data could underpin the aussie.
AUD/USD continues to consolidate near this year´s high at 0.7577.
The AUD/USD pair has spent a fourth consecutive day confined to a tight intraday range near its year’s high. The pair is heading into the Asian opening, trading a handful of pips below such a high at 0.7577, little affected by the dollar’s back and forth. Early on Wednesday, Australia published the November Westpac Leading Index, which came in at 0.46%, improving from 0.3% in the previous month. The Commonwealth Bank Manufacturing PMI improved to 56 in December from 55.8, while the services index came in at 57.4.