- AUD/USD remains subdued on Thursday during the early European hours.
- The Australian dollar losses against the greenback despite upbeat trade data.
- US Dollar retreats from the higher levels amid risk-aversion.
AUD/USD treads water in the Asian session on Thursday morning. The pair continued to trade under the influence of the previous week’s lower momentum.
At the time of writing, AUD/USD is trading at 0.7365, down 0.01% for the day.
The US Dollar Index (DXY), which tracks the performance of the greenback against its six major rivals manages to rebound from the early lower levels to trade near 92.50 with mild gains but still remain far from its recent highs.
On the other hand, Aussie lost ground as investors assessed the impact in the rebound of coronavirus cases, as per the latest data from ABC news, new 1,466 cases were recorded on Wednesday.
Australia’s Trade balance for July crosses 10200M market expectations to came at 12117, whereas Investment Lending for Home jumped 0.7% level of June with 1.8% for July. However, the upbeat data failed to lift the sentiment around the Australian dollar.
t is worth noting that S&P 500 Futures are trading at 4,524.09, up 0.031% for the day.
As for now, traders await the US Initial Jobless Claims, Balance of Trade, Unit Labour Costs, and Factory Orders to gauge the market sentiment.
