Aussie and Kiwi Hold Firm Amid Strong Trade Numbers

The Australian and New Zealand dollars held firm on Thursday, boosted by strong trade numbers. Australia recorded a surplus of A$1.9 billion in June, exceeding analyst expectations of a deficit of A$1.1 billion.

Exports of gold surged 60% from May to A$7.2 billion, coinciding with a record month of exports to China, which were up 38% on the year earlier. This helped keep the Aussie steady at $0.7058.

The Reserve Bank of Australia's decision next week is also being closely watched, with markets pricing out almost any chance of a rate hike. However, some analysts suggest there's still a one-in-five chance of a hike, citing disinflation as a concern.