Australian Trade Balance: AUD 12891m beats forecast 9050m, and previous 8,356m, AUD
The Australian Trade Balance for January released by the Australian Bureau of Statistics, has arrived as follows:
- A$+12,891 mln, s/adj (Reuters poll: a$+9,050 mln).
- Exports +8 pct m/m, seasonally adjusted.
- Goods/services imports -2 pct m/m, seasonally adjusted.
A rise in the trade surplus was anticipated for January as stronger export earnings outpace the lift in import costs.
AUD/USD is a touch softer on the data but holds within a 0.7289/97 range for the sessions so far.
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. 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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Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
