Following the release of January month trade numbers from Australia, analysts at the Australia and New Zealand Banking Group (ANZ) anticipate a substantial drop in trade surplus for the current quarter mainly due to the decline in Chinese travellers as well as Australian’s travelling overseas. Key quotes Australia’s trade surplus fell a touch to AUD5.2bn in January but was still above market expectations. A slightly larger fall in exports compared to imports is behind the decline. Overall, the weaker AUD over the past two months is likely starting to influence imports. We expect the AUD to stay at these lower levels for the rest of the quarter, so this should keep some downward pressure on imports. Looking forward to the rest of the quarter, we think the trade surplus will narrow substantially, reflecting the drop in Chinese travellers and our expectation of less international travel more generally, with some offset from fewer Australian’s travelling overseas. 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 likely to downgrade its economic assessment due to coronavirus impact – Bloomberg FX Street 2 years Following the release of January month trade numbers from Australia, analysts at the Australia and New Zealand Banking Group (ANZ) anticipate a substantial drop in trade surplus for the current quarter mainly due to the decline in Chinese travellers as well as Australian’s travelling overseas. Key quotes Australia’s trade surplus fell a touch to AUD5.2bn in January but was still above market expectations. A slightly larger fall in exports compared to imports is behind the decline. Overall, the weaker AUD over the past two months is likely starting to influence imports. We expect the AUD to stay at these lower… 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.
