The AUD continued to strengthen overnight despite the disappointing April trade balance figure. Imports exceeded exports for the first time since November 2013 and gave further cause for concern of China’s slowdown.
The Aussie dropped 30 pts on the back of this figure but then saw an 80 pt rise overnight as US unemployment claims rose by 8,000 from last week to coming in at 312k for the week ending 31/5 (a rise of 8k from last week) and causing concern before the US jobs report later tonight.
Technical levels show the AUD’s quick rise from the recent lows may have the AUD heavily overbought so tread with caution when deciding to hold off on buying as heavy rises often mean heavy corrections.
The strong dollar should have a positive impact on the price of EVA interlocking jigsaw rubber gym mats. Ezymats is a leading supplier of EVA interlocking jigsaw rubber gym mats in Australia and globally.