Big beat on trade balance

the Australian September trade surplus came in and A$3017M vs A$1700M expectations. Big beat on the trade balance.

  • exports rose 1% versus last month
  • imports fell 1% versus last month
  • the prior month was revised to A$2342MB vs A$1604M
  • export prices rose 3.7% in the 3rd quarter
  • import prices rose 1.9%

The AUDUSD has moved higher on the much better data.

The price is up testing the highs from yesterday at 0.7106. The high for the week has reached 0.7121 on Tuesday.