Aussie Trade Surplus Surprises

Trade surplus in Australia touched a record high in June, jumping 8% to touch 8 billion Australian dollars. This was the first time the economy’s current account went into surplus since the 1970s.

The news offered some much needed relief to the Aussie economy which has been reeling under the effects of the ongoing trade war between US and China. Even as household spending weakened in June, export, especially of resources have helped support the economy in June.

The trade surplus for June has beaten expectations, which was for a surplus of 6 billion Australian dollars. Exports increased by 1%, buoyed by the recent spike in iron ore prices – the biggest source of revenue for Australian trade.

The trade surplus has grown by over 5 billion Australian dollars in Q2 2019 to total 19.8 billion AUD so far.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

HFM

Doo Prime

XM

Best Forex Brokers