After the February trading balance in China, AUD/USD slipped to nearly 0.7007 deceptive Australian buyers. The slide for Chinese exports -16.6% YoY, up from +13.9% in the past, whereas imports are down to -0.3%, up from +2.9% before. The trade balance was 4.12 billion dollars compared to 39.16 billion dollars previously.
After receiving mixed signals from current Chinese data, investors now expect the US employment figures in February to forecast short-term movements.
The forecast shows that the headline non-farm payrolls 180K from 304K can be imprinted softly while the unemployment rate can decrease to 3.9% from 4.0%. Furthermore, the average hourly wages (YoY) can go up a little to 3.3% from 3.2% early.
In light of overall high desires of the US trade deal headlines and optimism, Aussie may be volatile and downwards, principally because of economic weakness in China and Australia.
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