Ella 
The Australian dollar rose against the US dollar following the release of China’s trade balance data on Tuesday. However, the Australian dollar faced challenges against the US dollar following the release of the downbeat Westpac Consumer Confidence Index.
Additionally, AUD/USD faces challenges as the greenback finds support as recent US labor market reports increase uncertainty about the likelihood of a sharp rate cut by the Federal Reserve at its September meeting.
China’s trade surplus in August was 649.34 billion yuan, up from 601.9 billion yuan previously. At the same time, China’s exports (CNY) increased by 8.4% year-on-year, after growing by 6.5% previously.
Australia’s Westpac Bank’s consumer confidence index fell 0.5% in September from the previous quarter, down from a 2.8% increase in August. Traders were awaiting China trade balance data due to be released later in the day. Given the close trading relationship between Australia and China, any changes in the Chinese economy could have a significant impact on the Australian market.
