Australian Trade Balance higher than expected, A$10.495Bln vs. estimated A$9Bln, AUD/USD steady

The Aussie Trade Balance released by the Australian Bureau of Statistics has been released as follows:

Australia Trade Balance April: 10.495Bln (estimated A$9Bln, previous A$9.314Bln).

Exports (MoM) April: 1% (estimated 1%, prev 0%).

 Imports (MoM) April: -1% (estimated 1%, prev -5%).

AUD/USD update

AUD/USD is steady on the release. More to come...

About Aussie 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.