AUD/USD: Australian Trade Balance

The release of the country's trade balance figures failed to provide any support for the Australian Dollar, with AUD/USD tumbling 0.09% to hit the 0.7928 mark right after the data came out. Following the release, the Aussie continued to weaken against the Greenback, sliding towards the 0.79248 level through the early morning session. The Australian Bureau of Statistics reported the country's trade surplus narrowed more than expected in June, falling sharply to A$856M from the downwardly-revised A$2.02B surplus seen in the previous month. However, despite the weaker-than-expected data, the Australian economy seems to have picked up steam from the sluggish March quarter, as consumer and business spending were seen climbing recently.