FX.co ★ Aussie Dollar Holds Ground on Robust Trade Data

The Australian dollar remained stable at approximately $0.651 on Thursday, maintaining its recent gains, as stronger-than-anticipated trade figures lifted market sentiment. Australia's trade surplus experienced a significant increase, reaching AUD 3.94 billion in September, up from a revised AUD 1.11 billion in August, surpassing expectations of AUD 3.85 billion. This expansion was primarily due to a 7.9% rise in exports, which were buoyed by increased gold shipments as bullion prices climbed throughout the month. Meanwhile, imports climbed by 1.1% to new heights, driven by higher capital goods. On the monetary policy front, the Reserve Bank's decision to keep rates steady at 3.6% in November indicated a possible halt in easing measures, as officials cited ongoing inflation concerns and a limited window for additional rate reductions. Despite the central bank's hawkish position, the Australian dollar faced pressure from the generally stronger US dollar, influenced by robust US economic data that diminished expectations of rate cuts by the Federal Reserve.