Terms of trade data for Q3 coming in at a bit of a miss ... especially on export prices
Q3 export price index 0.0% q/q:
- expected 0.6%, prior was -4.4%
Q3 import price index +1.4% q/q:
- expected 1.5%, prior was 1.4%
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Falling AUD means more expensive imports
Falling commodity prices reflected in the fall for the export price index
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Not much of a response from the AUD, but this data point is rarely an immediate FX market mover
