- Analytics
- News and Tools
- Market News
- Aussie Trade Balance weighs on AUD/USD despite higher surplus
Aussie Trade Balance weighs on AUD/USD despite higher surplus
The Trade Balance has been released as follows:
- Australia Trade Balance Oct: A$12.217Bln (est A$ 12Bln, prev A$12.444Bln).
- Exports MoM Oct: -1% (est 1%, prev 7%).
- Imports MoM Oct: -1% (est 2%, prev 0%).
AUD/USD update
AUD/USD is sliding following the data, down some 0.2% and making a low of 0.6709 so far for the session.
Technically, the price is bearish while below the prior trendline support and pressured by supply at a key daily resistance area.
About the Trade Balance
The data that 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.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
