Aussie Trade Balance beats estimates but AUD/USD little to show for it

The trade balance released by the Australian Bureau of Statistics is out as follows:

• Australia Sept balance goods/svcs AUD+12,444 mln, s/adj (Reuters poll: A$+8,850 mln).
• Australia Sept goods/services exports +7 pct MoM, seasonally adjusted.
• Australia Sept goods/services imports 0 pct MoM, seasonally adjusted.

AUD/USD, meanwhile, remains under pressure as the US dollar climbs back into positive territory across the board following a hawkish turn of events at the FOMC on Wednesday. At the time of writing, AUD/USD is trading at 0.6327 and is lower by 0.32% so far on the day.

About Aussie Trade Balance

The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.