The Australian Trade Balance data for March arrived at AUD 5574m in surplus but misses estimates as follows:
Australia Trade Balance (Mar):A$5574Mln(est A$8200Mln, prevR A$7595Mln).
Exports (M/M) Mar: -2% (est 4%, prev -1%).
Imports (M/M) Mar: 4% (est 8%, prev 5%).
The Aussie is pressured slightly in this holiday tarde.
More to come…
About 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.
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