Australian and New Zealand dollars down

The Australian and New Zealand dollars failed to advance on Tuesday against their US counterpart as markets reacted cautiously to a surprise trade surplus in China and a steady rate decision from Japan. The Australian dollar edged lower to $1.0307, from $1.0312 in New York, having initially peaked as high as $1.0357 after stops were tripped when China posted a trade surplus of $5.35 billion in March.
The Aussie plumbed a three-month low of $1.0240 last week, with poor domestic trade data casting doubt on first-quarter growth and narrowing the odds for a rate cut. The New Zealand dollar slipped 0.2 percent on the day to $0.8200, pulling back from a session high of $0.8240 hit on the back of the strong Chinese trade data.