Lower surplus than expected
The Australian trade balance for October came in much lower than expectations at A$105M vs an estimate of A$1400M.
- exports fell 3% from last month
- imports rose 2% from last month
- September trade balance revised to A$1600M from A$1750M
Taking a broader view from the daily chart below, the lows from November were near lows from June (see daily chart below) and the 61.8% of the move up from the December 2016 low. That comes in at 0.7528.