Australia’s Trade Balance shows a surplus of 1,923M MoM in July, vs. 1,390 expected
Australia's Trade Balance narrowed to A$1,923M MoM in July, followed a surplus of 1,929M in the previous reading, according to the latest foreign trade data published by the Australian Bureau of Statistics on Thursday. The market consensus was for a surplus of A$1,390M.
Further details reveal that Australia's Exports fell by 3.3% MoM in July from a rise of 9.6% seen a month earlier. Meanwhile, Imports dropped by 2.5% MoM in July, compared to a decrease of 0.2% seen in June.
Market reaction to Australia’s Trade Balance
The Australian Dollar (AUD) has little to no impact following the Australia’s Trade Balance report. At press time, the AUD/USD pair is trading at 0.7168, losing 0.01% on the day.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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