AUD/USD Hovers Near Two-Month Low Ahead of China Trade Data
The Australian dollar remains near its lowest level since April 13 against the US dollar, struggling to extend a modest bounce as traders await China's trade balance data.
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The AUD/USD pair is trading near a two-month low, failing to build on a slight recovery from levels last seen on April 13. The currency drifted lower during the Asian session, reflecting cautious positioning ahead of China's upcoming trade balance release.
China is Australia's largest trading partner, so any deviation from expectations in the trade data could trigger significant volatility in the Aussie. A weaker-than-expected reading would likely put additional downward pressure on AUD/USD, while a beat may provide temporary support.
Source: FXStreet Forex News