The AUD/USD pair received traction at some stage in the Asian buying and selling hours on Thursday and touched a each day pinnacle of 0.7648 earlier than losing its momentum. As of writing, the pair used to be nevertheless up 0.15% on a each day groundwork at 0.7629.
AUD recovers on the returned of sturdy data, vaccine headlines
Earlier in the day, the statistics posted with the aid of the Australian Bureau of Statistics confirmed that Exports in December expanded by way of 3% and Imports shrunk by way of 2%, lifting the Trade Balance up to AUD6.7 billion from AUD5 billion in November.
In addition to the upbeat data, Australian Prime Minister Scott Morrison introduced that they will be buying any other 10 million doses of Pfizer’s coronavirus vaccine and supplied an extra enhance to the AUD.
Nevertheless, the unabated USD power amid the heavy promoting strain surrounding the EUR made it challenging for AUD/USD to prolong its rebound.
The US Dollar Index, which tracks the greenback’s overall performance in opposition to a basket of six principal currencies, is presently at its absolute best degree in extra than two months, rising 0.28% on the day at 91.42. Later in the session, the US Department of Labor will submit its weekly Initial Jobless Claims data. Fourth-quarter Unit Labor Costs and December Factory Orders will be featured in the US financial docket as well.