I don't know that the data will have too much of an immediate AUD impact, but we will find out soon enough
Due at 0130 GMT, Australian trade balance for June
- expected is a surplus of 900m AUD, previous was a 827m AUD surplus
Preview here:
Adding a quickie via Westpac:
Australia's monthly trade account has been in surplus so far in 2018.
- For June, we anticipate another trade surplus, widening a little to $1.1bn, up from $0.8bn in May
import bill is expected to be broadly unchanged
- a lift in volumes potentially offset by a modest pull-back in fuel prices (following sharp rises of late)
Export earnings are expected to expand by 0.8%
The average monthly trade surplus for Q2 would be $0.8bn (subject to revisions), narrowing from $1.2bn for Q1. This modest deterioration likely reflects the impact of a decline in the terms of trade, down an estimated -1½%
