Australia's Trade Balance has been released by the Australian Bureau of Statistics as follows:
- Australia May balance goods/svcs A$+15,965 mln, s/adj (Reuters poll: A$+10,725 mln).
- Australia May goods/services exports +9 .5pct m/m, seasonally adjusted.
- Australia May goods/services imports +5.8 pct m/m, seasonally adjusted.
AUD/USD update
The data has failed to move the needle in forex by any significant margin, although it has put a 6 pip bid into AUD/USD so far which is sticking within a familiar range, trading around 0.21% at 0.6790.
About the Aussie 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.
