Aussie Trade Balance for September 5.63bn surplus vs the expected 3.7bn
|A huge beat in the Aussie Trade Balance for September as AUD5.63bn surplus vs the expected AUD3.7bn should underpin the currency, which is so far doing the opposite, down on a fraction on the release.
- Goods/services exports +4 pct MoM, seasonally adjusted.
- Goods/services imports -6 pct MoM, seasonally adjusted.
This follows the June quarter 2020, where he account surplus in seasonally adjusted terms increased $8.7 billion to $17.7 billion for a record.
AUD/USD is flat at the time of writing sitting at 0.7178, off the 0.7189 highs from earlier in the session.
About the Trade balance
The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods.
Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand.
The Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.
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