Aussie and Kiwi Dollars Firm on Strong Trade Numbers

The Australian and New Zealand dollars held firm on Thursday, buoyed by strong trade numbers that showed Australia scored a surplus of A$1.9 billion in June.

Exports of gold jumped 60% from May to A$7.2 billion, which coincided with a record month of exports to China, up 38% on the year earlier.

The Australian dollar remained steady at $0.7058, having edged up 0.1% overnight, and is seen as having potential to break resistance in the $0.7069/88 range, which could open the way to a bull target at $0.7200.

Bonds were also in demand, with 10-year yields holding at 4.926%, well away from a July high of 5.091%.