Australian Trade balance for December, comes in at a huge beat, surplus of 3,511m
- expected AUD 2bn surplus
- prior REVISED MUCH HIGHER to surplus of AUD 2040mln (from AUD 1.243bn surplus)
This is a record high for the monthly trade surplus
- Exports +5% m/m (sa) - also a record high m/m
- Exports of metal ores, minerals (hello iron ore), coal, coke ... and more ... all higher
- Imports +1% m/m (sa)
The Australian dollar is liking it. It had traded higher in the minutes leading up to the data release. Here's the one-minute candle chart, you can see the pre-data move clearly, and then the sharper surge on the release:
I'm not normally one for the 'manipulation' story but if anyone wants to comment on the likelihood of this data leaking out early I'm gonna find it difficult to argue ... ;-)
Aaaanndddd .... here's a tweet from me 3 minutes ahead of the data release ... it was pretty obvious!
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Note, out at the same time: Building Approvals (December): -1.2% m/m (expected -1.5%)
