AUD/USD continues fallen below 0.6750 after Australia Trade Balance, RBA Bulletin

AUD/USD is pushed around the intraday low of 0.6720, paying little regard to Aussie data on early Thursday. Not only the underwhelming trade data from Australia but mixed comments from the Reserve Bank of Australia’s (RBA) quarterly Bulletin and risk catalysts also restrict the Aussie pair’s quick moves.

In spite of this, the Australian Trade Balance for October improved to 12,217M compared to 1,155M anticipated and 12,445M previously. Further information indicates that both Imports and Exports decreased by 1.0%, contrary to estimates of increases of 2.0% and 1.0%, respectively.

In addition, the quarterly Bulletin from the Reserve Bank of Australia (RBA) failed to provide clear guidance to AUD/USD pair traders, as it emphasized the significance of education while complimenting the economic change brought about by the loosening of Covid-linked limitations.

Other than the data, the mixed cues from the geopolitical front appear to restrain the AUD/USD pair’s immediate moves. The explanation could be linked to Russian President Vladimir Putin’s threat of deploying nuclear weapons and comments from German Chancellor Olaf Scholz recommending lessening the dangers of Moscow using nuclear weapons.

China's gradual loosening of the Zero-Covid policy, on the other hand, appears as a passive reopening and struggles to impress bulls.

Amid these moves, US Treasury yields lick their wounds and the stock futures record small losses before the press time.

Moving forward, a light economic calendar and mixed signals from qualitative catalysts may limit the AUD/short-term USD's volatility. A policy-driven blackout of Fed officials before of next week's Federal Open Market Committee meeting might also pose a threat to the pair's immediate momentum (FOMC). Nonetheless, the US Initial Jobless Claims report for the week ending December 2 is anticipated to show a jump of 230K from 225K the previous week.