DJIA28004.89
LIVE222.93(0.80%)
NDX8315.52
LIVE57.69(0.70%)

Aussie May Trade Balance: surplus of AUD$5.745m


Wednesday, 3 July 2019 08:59 WIB

Ekonomi AustraliaTrade BalanceBuilding Approval


c_740_198_16777215_00_images_assets_ECONOMY_00103208868-GettyImages-462200509.530x298.jpg

The Australian trade balance for May 2019 has arrived as follows, Surplus: AUD$5.745m vs the expected AUD$5250m surplus, the prior was AUD$4871m surplus.

This follows Australia’s trade position swinging from deficit end-2017 to growing surpluses through 2018 and a record high A$5.0bn in Feb 2019.

Analysts at Westpac said that a surge in the value of resources exports has been the main driver of late, but non-resource exports are also growing while imports are being constrained by sluggish consumer spending and the weak AUD. "Iron ore export receipts should be boosted by both rebounding volumes after Tropical Cyclone Veronica and of course higher prices, but coal should be a drag."

At the same time, Australian Building Approvals (Year/Y) May: -19,6% (expected -21.5%; previos -24.2%) - Building Approvals (Month/M) May: 0.7% (exp 0.0%; prev' -4.7%)

These are released by the Australian Bureau of Statistics shows the number of permits for new construction projects. It implies the movement of corporate investments (the Australian economic development). It tends to cause some volatility to the AUD. The more growing number of permits, the more positive (or bullish) for the AUD.

Source : FXstreet


RELATED NEWS

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.