Australian Dollar Soft After Thursday’s Economic Releases

The Australian dollar was very soft today, probably due to the risk-off market sentiment, while domestic macroeconomic data did nothing to help the currency.

The trade balance surplus shrank to A$0.98 billion in April from A$1.73 billion in March, matching the consensus forecast exactly. The seasonally adjusted Australian Industry Group Performance of Construction Index fell to 54.0 in May from 55.4 in April.

There will be no economic releases from Australia in the nearest future as the Friday’s docket is empty in terms of macroeconomic reports, and on Monday Australian markets will be closed for a holiday.

AUD/USD fell from 0.7666 to 0.7646 as of 13:06 GMT today. EUR/AUD rallied from 1.5354 to 1.5468.

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