Australian January trade data: Exports +1% m/m (prior-1%) & Imports +5% m/m (prior +1%)

Australian trade balance data for January 2023, a surplus of AUD AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term 11,688mn

• expected 12500 mn
• prior 12237mn

A huge jump in imports. Consumer sentiment might be in the doldrums but there is plenty of spending going on.

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The focus in Australia today is on the Reserve Bank of Australia meeting.

due at 7.30pm US Eastern time. A 25bp rate hike is widely expected:

• RBA interest rate hike due today, eyes on the Statement: More hawkish, or less? Preview.

• RBA Preview: Not out of the woods yet - BofA
• The RBA expected to raise its cash rate again on Tuesday, Gov Lowe speaks the next day.
• AUD traders heads up: RBA 'shadow board' recommends a 25bp cash rate hike on Tuesday 7 Feb