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- Aussie Trade Balance, imports far higher than expected
Aussie Trade Balance, imports far higher than expected
The Australian trade balance released by the Australian Bureau of Statistics could weigh on the Aussie currency as imports came in far higher than expected.
Trade Balance
- Australia's Trade Balance for February 7.46bn AUD surplus vs. the expected surplus 12bn AUD and prior surplus 12.891bn AUD.
- Exports (MoM) Feb: 0% (est 0%; prev 8%).
- Imports (MoM) Feb: 12% (est 2%; prev -2%).
AUD/USD is losing ground in general but the price has been established on the data, despite the rise in imports and a miss in the surplus as a consequence. AUD/USD is still down some 0.15% for the session at 0.7495 and below the 0.7518 highs.
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.
Review Alex Nekritin's Article - Trading the Aussie with Australia Trade Balance
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