Andrew Hanlan, analyst at Westpac, points out that in July, Australia’s trade surplus remained at a near record highs – albeit down from the June peak as the surplus narrowed to $7.3bn, down from the $8.0bn record result for June. Key Quotes “This was about mid-way between market expectations and our view (market median $7.0bn and Westpac $7.8bn).” “Imports were particularly volatile over the period of June and July.” “The import bill slumped by 3.5%, $1.3bn, in the final month of the 2018/19 financial year. That was almost fully reversed in July, rebounding by $1.0bn, 2.9%. We anticipated a sizeable reversal, albeit not quite this large.” “Export earnings moved higher still in July, increasing by +0.6% (+$0.3bn). Over the year, exports are up by almost 16%.” “Over the next couple of months, the trade surplus is likely to be trimmed somewhat. The spike in the iron ore price began to be unwound in August – with spot prices pulling back from around US$120/t to the $85 to $90 mark.” 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 EUR/USD upside looks limited around 1.1080 – UOB FX Street 4 years Andrew Hanlan, analyst at Westpac, points out that in July, Australia's trade surplus remained at a near record highs - albeit down from the June peak as the surplus narrowed to $7.3bn, down from the $8.0bn record result for June. Key Quotes "This was about mid-way between market expectations and our view (market median $7.0bn and Westpac $7.8bn)." "Imports were particularly volatile over the period of June and July." "The import bill slumped by 3.5%, $1.3bn, in the final month of the 2018/19 financial year. That was almost fully reversed in July, rebounding by $1.0bn, 2.9%. We anticipated a sizeable… 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.
