THE Australian dollar is higher after bouncing back from losses caused by weaker than expected Chinese trade figures.
At 5pm, the local unit was trading at 91.96 US cents, up from 91.83 cents yesterday.
LTG Goldrock director Andrew Barnett said the Australian dollar dipped after official data from China showed the country's monthly trade surplus fell by 14 per cent in June, as imports and exports both unexpectedly declined.
But the market was now awaiting Australian labour force figures and US Federal Open Market Committee (FOMC) minutes, both to be released tomorrow, he said.
"The Aussie has reacted negatively toward the China data but what the Aussie is going to really react to are the FOMC minutes and any comments that US Federal Reserve chairman Ben Bernanke makes on Thursday," Mr Barnett said.
