Australia’s Trade Balance shows a surprise surplus of 1,929M MoM in June, vs. -1,100 expected
Australia's Trade Balance shifted to surplus of A$1,929M MoM in June, followed a deficit of 2,367M in the previous reading (revised from A$3,018M), according to the latest foreign trade data published by the Australian Bureau of Statistics on Thursday.
In June, Australia's Trade Balance showed an unexpected surplus of A$1,929 million month-over-month, reversing a previous deficit of A$2,367 million, according to updated foreign trade data from the Australian Bureau of Statistics. The market had anticipated a deficit of A$1,100 million. Exports increased by 9.6% month-over-month, after falling by 7.6% in the prior month (revised from 6.9%), while imports decreased by 0.2% month-over-month, compared to a rise of 0.9% in May (revised from 2.6%).
The Australian Dollar (AUD) steadied following the Trade Balance report, with the AUD/USD pair trading at 0.7055, down 0.03% for the day.
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