Aussie little changed in a steadier beginning of the week
Aussie initially went down but managed to find area around 0.77 handle to be supportive enough and is currently being traded few points above 0.7720 level. Ninth consecutive month of growth in Anz Job Advertisements added some fuel to the markets, though there are no any huge movements in a lack of major data releases.
Over the weekend, China's Trade Balance figures were released. The trade surplus for February was $60.6 billion, above January’s record of $60 billion and well above expectations on $7.8 billion surplus. China’s exports surged more than 48% in February from a year earlier. While that number was skewed by distortions from the timing of the Lunar New Year holiday, the combined figure with January still showed overseas sales rose 15%. The government is targeting a 6% gain in trade for 2015.
Pair is likely to find support around 0.7650 and resistance above 0.7750 area. Later today, there will be no major data releases so we can expect steadier rest of the session.
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