Aussie July Trade Balance surplus arrives below estimates, weighs on AUD
Australia July balance goods/svcs at A$+4,607 mln, s/adj vs the Reuters poll of +5,400 mln has tipped the Aussie to the session low.
More details
Australia July goods/services exports -4 pct MoM, seasonally adjusted.
Australia July goods/services imports +7 pct MoM, seasonally adjusted.
AUD/USD touched a low of 0.7318 on the data while the market looks to Chinese Caixin Services PMIs for August.
Description of 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
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.