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AUD Extends Recent Gains as Exports Surge

FOREX
  • AUD is making further progress early Thursday, rising through the Wednesday highs to cement the move through the $0.7378 50-dma. Trade balance numbers came in ahead of expectations, with exports growth firmer than forecast and helping support recent AUD strength.
  • NZD is stronger in sympathy, helping NZD/USD secure its third consecutive session of gains, prompting the rate to top the 100-dma for the first time since June.
  • CHF is underperforming, but USD/CHF holds within the week's range. Further strength in equity markets could work further against haven FX, with European indices higher across the board.
  • Weekly US jobless claims and trade balance numbers from the US and Canada are the calendar highlights going forward. Fed's Bostic and Daly are also on the docket.

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