$A higher despite weak Chinese trade data The Australian dollar is higher after bouncing back from losses caused by weaker than expected Chinese trade figures. At 1700 AEST on Wednesday, the local unit was trading at 91.96 US cents, up from 91.83 cents on Tuesday. 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 June labour force figures and US Federal Open Market Committee (FOMC) minutes, both to be released on Thursday morning, Australian time, 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. Anything that gives the market any hint about tapering in the US is going to see strength in the US dollar which of course is going to be weakness in the Aussie. If the labour force figures are weak, we're going to see further weakness in the Aussie. At 1700 AEST, the Australian dollar was at 92.45 Japanese yen, down from Tuesday's close of 92.91 yen, and at 71.89 euro cents, up from 71.22 euro cents. Meanwhile, the weak Chinese trade figures drove Australian bond futures prices higher. ANZ interest rate strategist Zoe McHugh said the Chinese data, combined with a disappointing National Australia Bank business survey on Tuesday, had driven the rally. The survey showed business conditions in June had slumped to their lowest level in four years despite lower interest rates and a falling Australian dollar. Ms McHugh said the survey result had prompted investors to expect a weak result in the labour force figures. "The market does seem to be positioning for a weaker outcome in the labour force figures and I think that's probably driven the rally," Ms McHugh said. At 1630 AEST the September 10-year bond futures contract was trading at 96.145 (implying a yield of 3.855 per cent), up from 96.105 (3.895 per cent) on Tuesday. The September three-year bond futures contract was at 97.220 (2.780 per cent), up from 97.170 (2.830 per cent).