In the Australian Financial Review today a story on major boost to the government's budget from a dramatic upswing in resources and energy sales
- Unexpectedly resilient commodity prices are set to earn more than $1 trillion ... over the next four years - a figure that is equivalent to almost 60 per cent of gross domestic product
Exporters will bring home a record $230 billion in earnings for 2017-18
- which represents a 10.6 per cent jump from last year
- thanks primarily to surging LNG shipments and higher prices
- as well as continuing robust coal and iron ore prices
The AFR (link to story is above) may be gated.
I noted the improving fortunes for exports last week in the most recent trade balance data. Expect this to become a talking point in coming days and weeks. This should provide a positive input for the AUD.
