Australian Trade Balance (AUD) Jun: 17670M (exp 12000M; prev 15965M) AUD supported

The trade balance released by the Australian Bureau of Statistics has been released as follows:

Australian Trade Balance (AUD) Jun: 17670M (exp 12000M; prev 15965M).

Exports (M/M) Jun: 5% (exp 0%; prev 9%) - Imports (M/M) Jun: 1% (exp 3%; prev 6%).

AUD/USD has popped to fresh session highs of 0.6962 so far. 

More to come...

About the 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.