The Australian dollar opened sharply lower today following the release of poor trade data from China over the weekend. The Aussie moved higher after the start of trading as economic data from Australia itself was rather positive.
While China’s trade surplus reached the record level of $61.64 billion in October, the report was not good at all. The increase of trade excess was a result of the fact that imports were falling faster than exports, and this is in no way good news. Meanwhile, ANZ Australian Job Advertisements rose 0.4 percent in October, month-on-month, after demonstrating strong growth by 3.8 percent in September.
AUD/USD closed at 0.7172 on Friday and opened at 0.7027 today before trading at 0.7059 as of 12:33 GMT today. AUD/JPY traded at 87.15 after closing at 87.14 after closing at 86.93 at the previous trading session and opening at 86.63 at the current session.
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