Annette Beacher, Chief Asia-Pacific Macro Strategist at TD Securities, notes that the Australia’s Sep trade surplus exploded to +$A3.0b outpacing the most optimistic forecast. Key Quotes “The AUD surged through $US0.713 for good reason: substantial upgrades to prior trade surpluses, prices strong, volumes holding up.” “Sep qtr export prices jumped by +3.7%/q while import prices rose by +1.9%/q, such that the terms of trade rose by nearly +2%/q. The Q3 trade surplus expanded to +$A6.4b, and so the current account deficit looks like shrinking from -2.6% (was -2.9%) to -2.1% of GDP.” “After the lift in the terms of trade are taken into account, this implies that the trade sector adds +0.2%pt to GDP, double the contribution of Q2. This in turn boosts our GDP tracking to +0.7%/q, or remaining at 3.4%/y, above the RBA’s August GDP forecast of closer to 3.25%.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BoJ: Dovish stance remains intact – Nomura FX Street 4 years Annette Beacher, Chief Asia-Pacific Macro Strategist at TD Securities, notes that the Australia's Sep trade surplus exploded to +$A3.0b outpacing the most optimistic forecast. Key Quotes "The AUD surged through $US0.713 for good reason: substantial upgrades to prior trade surpluses, prices strong, volumes holding up." "Sep qtr export prices jumped by +3.7%/q while import prices rose by +1.9%/q, such that the terms of trade rose by nearly +2%/q. The Q3 trade surplus expanded to +$A6.4b, and so the current account deficit looks like shrinking from -2.6% (was -2.9%) to -2.1% of GDP." "After the lift in the terms of trade… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
