- The Aussie resumes middling in volume-tapped Asia markets despite an improved Trade Balance reading.
- Aussie Imports remain flat as traders await further Aussie data tomorrow, plus another NFP Friday in the pipe.
The AUD/USD is ticking down beneath the 0.7100 figure following the Australian Trade Balance release, which showed a $1.6 billion surplus, but traders found little reason to celebrate as Australia’s Imports continued to show no growth, holding steady at the 0% figure.
Bearish action was likewise muted following the release, as Aussie Exports managed to reverse the previous period’s -1% contraction, coming in at a svelte 1%, but the AUD/USD remains overall firmly bearish heading into another US Non-Farm Payrolls Friday.
Early Friday will also be bringing another round of Australia’s seasonally-adjusted Retail Sales for August at 00:30 GMT, and traders will want to keep an eye out for any bucking in the Aussie with the figure forecast to clock in at 0.3% versus the previous month’s 0.0%.
AUD/USD levels to watch
With the AUD/USD putting in footwork just beneath 0.7100, the pair remains firmly bearish, testing into 2018’s bottoms at 0.7085, and buyers will have their work cut out for them if they’re going to halt the slide from the last swing high of 0.7315.
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