Aussie June Trade Balance: Surplus A$+10,496 mln vs Reuters poll: A$+10,450 mln
The Aussie Trade Balance has arrived as follows:
Surplus A$+10,496 mln vs Reuters poll: A$+10,450 mln
AUD/USD reaction & update
AUD/USD is steady on the release at 0.7380 between a narrow range for the session so far.
In what has otherwise been a bullish week for the Aussie, it has been forced into a downshift midweek as the US dollar firms following hawkish Federal Reserve comments from some members.
More to come...
About the Trade Balance
It is 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.