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Australian trade balance surprises with A$1.929B surplus in June

The June report also showed exports up 9.6% month over month while imports slipped 0.2%, helping lift AUD/USD to around 0.7055 at the time of reporting.

Reported · Written up by our desk · Major Pairs

Australia’s trade balance swung to a surplus of A$1,929 million in June, reversing the prior month’s deficit of A$2,367 million, according to foreign trade data from the Australian Bureau of Statistics.

The data showed exports rose 9.6% month over month in June, after a prior decline that was revised, while imports fell 0.2% month over month following a May increase that was also revised.

FXStreet said market expectations had pointed to a deficit of A$1,100 million, and the reported surprise helped the Australian dollar pare losses after the release.

At the time of reporting, AUD/USD was trading around 0.7055, down 0.03% on the day, with the story noting that AUD moves can be influenced by Reserve Bank of Australia interest rate policy and conditions tied to trade with China.

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