|

When is the Aussie Trade Balance, and how could it affect the AUD/USD?

Aussie Trade Balance overview

Australia's latest Trade Balance figures are due soon at 00:30 GMT for Thursday, dropping onto quiet markets and expectations are calling for Australia's balance of trade to bump higher to $3.2 billion AUD, up from the last reading of $3.017 billion. Australian Exports in September last came in at 1%, while Imports for the same period spread the middle at -1%, and bullish-hopeful traders could be hoping for a recovery in the previously-negative Import figure to help the Aussie Trade Balance recover ground after a disappointing week.

How could it affect the AUD/USD?

The Aussie is barely keeping itself afloat above the critical 0.7250 level, and as noted by FXStreet's own Valeria Bednarik, AUD/USD remains pinned near oversold territory, but plenty of room remains below: "the pair heads into the Asian opening barely trading above 0.7250, and short-term bearish according to the 4 hours chart, although holding above the critical 0.7250 level, perceived as a line in the sand. In the mentioned time-frame technical indicators remain at their daily lows near oversold readings, while the pair is ending the day below the 100 SMA and further below a mild-bearish 20 SMA. A quick recovery above the 0.7300 level once the market resumes normal activity, will indicate bulls are still dominating the pair."

Support levels: 0.7250 0.7210 0.7175

Resistance levels: 0.7300 0.7340 0.738

Key notes

Trading the Aussie with Australia Trade Balance

AUD/USD analysis: Australian trade balance and retail sales up next

About the Australian Trade Balance

The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD. 
 

Author

Joshua Gibson

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

More from Joshua Gibson
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD clings to small gains near 1.1750

Following a short-lasting correction in the early European session, EUR/USD regains its traction and clings to moderate gains at around 1.1750 on Monday. Nevertheless, the pair's volatility remains low, with investors awaiting this weeks key data releases from the US and the ECB policy announcements.

GBP/USD edges higher toward 1.3400 ahead of US data and BoE

GBP/USD reverses its direction and advances toward 1.3400 following a drop to the 1.3350 area earlier in the day. The US Dollar struggles to gather recovery momentum as markets await Tuesday's Nonfarm Payrolls data, while the Pound Sterling holds steady ahead of the BoE policy announcements later in the week.

Gold stuck around $4,300 as markets turn cautious

Gold loses its bullish momentum and retreats below $4,350 after testing this level earlier on Monday. XAU/USD, however, stays in positive territory as the US Dollar remains on the back foot on growing expectations for a dovish Fed policy outlook next year.

Solana consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout. On the institutional side, demand for spot Solana Exchange-Traded Funds remained firm, pushing total assets under management to nearly $1 billion since launch. 

Big week ends with big doubts

The S&P 500 continued to push higher yesterday as the US 2-year yield wavered around the 3.50% mark following a Federal Reserve (Fed) rate cut earlier this week that was ultimately perceived as not that hawkish after all. The cut is especially boosting the non-tech pockets of the market.

Solana Price Forecast: SOL consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana (SOL) price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout.