PERTH: Disappointing trade numbers out of China and strong jobs growth in the US are weighing the Australian dollar down below US78c.
At 12.00pm (AEDT) on Monday, the local currency was trading at US77.56c, down from US78.41c on Friday.
The Australian dollar took a hit over the weekend after official figures showed the US economy pumped out a better-than-expected 257,000 new jobs in January, while wage growth rebounded firmly.
Official Chinese trade figures delivered another blow, showing imports to Australia’s biggest trading partner decreased 19.7 per cent year-on-year to 860 billion yuan ($A177.5bn).
“The Australian dollar is marginally weaker this morning on the back of the big fall in Chinese imports,” OANDA Asia Pacific senior trader Stephen Innes said.
The market will now turn its attention to Chinese inflation figures out Tuesday and local jobs figures on Thursday, Mr Innes said.
Meanwhile, Australian bond futures prices were lower.
At noon, the March 2015 10-year bond futures contract was trading at 97.485 (implying a yield of 2.515 per cent), down from 97.580 (2.420 per cent) on Friday.
The March 2015 three-year bond futures contract was at 98.030 (1.970 per cent), down from 98.100 (1.900 per cent).
