AUD/USD keeps losses despite big beat on Australian trade surplus

  • AUD/USD continues to trade in the red despite the upbeat Aussie trade data. 
  • Australia's trade surplus widened to A$7,180 in September. 
  • The US dollar continues to draw bids on trade optimism. 

AUD/USD is struggling to pick up a strong bid despite a better-than-expected Australian trade data. 

The country's trade surplus widened to A$7,180 million in September, beating the expected print of A$5,000 million by a big margin. The trade surplus stood at A$5,926 million in August. 

Exports or outbound shipments rose 3% in September, having dropped by 3% in August. Meanwhile, Imports or inbound shipments also registered a growth of 3%. The uptick in imports could be considered a sign the domestic demand is holding up well following Reserve Bank of Australia's multiple rate cuts. Also, the rise in exports is good news. 

Even so, the Aussie dollar is not impressed. The AUD/USD pair continues to trade in the red near 0.6877. An 8-pip bounce seen immediately after the data release was short-lived. 

The currency pair may drop further as the American Dollar is attracting bids on the easing of US-China trade tensions. Reuters said the phase-one of the trade deal could be signed in December while Fox Business News quoted Chinese trade source as saying the US will not increase tariffs on Chinese goods scheduled to take place from December 15.

On the data front, weekly reading of the US Initial Jobless Claims and speech from the President and CEO of the Federal Reserve Bank of Dallas, Robert Kaplan, will be observed closely.

Technical levels


Today last price 0.6879
Today Daily Change -0.0004
Today Daily Change % -0.06
Today daily open 0.6883
Daily SMA20 0.684
Daily SMA50 0.6807
Daily SMA100 0.685
Daily SMA200 0.6951
Previous Daily High 0.6908
Previous Daily Low 0.6868
Previous Weekly High 0.693
Previous Weekly Low 0.681
Previous Monthly High 0.693
Previous Monthly Low 0.667
Daily Fibonacci 38.2% 0.6883
Daily Fibonacci 61.8% 0.6893
Daily Pivot Point S1 0.6864
Daily Pivot Point S2 0.6846
Daily Pivot Point S3 0.6824
Daily Pivot Point R1 0.6904
Daily Pivot Point R2 0.6926
Daily Pivot Point R3 0.6944



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD extends losses toward 1.1250 amid coronavirus concerns

EUR/USD is trading closer to 1.1250 as concerns about US coronavirus cases are growing. Eurozone finance ministers are meeting ahead of next week's summit.  US PPI and updated COVID-19 statistics are awaited.


GBP/USD pressured under 1.26 amid risk-off mood, Brexit uncertainty

GBP/USD is trading below 1.26, off the highs. Rising US coronavirus cases are pushing markets lower and the safe-haven dollar higher. Concerns about Brexit and the UK refusal to participate in the EU coronavirus vaccine scheme are weighing on sterling. 


Gold: Well-defined battle lines point to range play around $1800

Gold nurses losses around the $1800 following Thursday’s good two-way businesses. The risk-off theme amid COVID-19 concerns continues to bode well for the US dollar. 

Gold News

Canada Net Change in Employment June Preview: June is looking better and better

Job gains expected to more than double in June. Unemployment rate to drop to 12% from 13.7 in May. Ivey PMI was twice its forecast in June, highest since Nov 2019. USD/CAD would benefit from better June job figures.

Read more

WTI extends Thursday’s drop as virus cases rise

Oil extends overnight sell-off as virus concerns dominate the market sentiment. The resurgence of virus cases in the US has fueled lockdown fears. The US on Thursday registered 65,551 new cases, a record for a 24-hour period.

Oil News