[B]Intra-Day Market Moving News and Views
06 Jan 2017[/B] [I] 01:17GMT
AUS/USD - … Despite release upbeat Australian trade data, AUD showed muted reaction to this.
Reuters reported earlier Australia boasted its first trade surplus in almost three years in November as surging commodity prices boosted export earnings beyond all expectations, a much-needed windfall for mining profits, national income and tax revenues.
Friday’s data from the Australian Bureau of Statistics showed a trade surplus of A$1.24 billion ($908.92 million)in November, far above forecasts of a A$500 million deficit.
Exports jumped by 8.4 percent, or a whopping A$2.3 billion, to top A$30 billion for the first time ever. Coal, iron ore and rural exports all enjoyed double-digit gains, while imports were unchanged on the month.
November’s barnstormer ended a 31-month run of deficits and is likely a just a taster of more to come as prices for many key resources remain strong on the back of sustained Chinese demand.
Data to be released on Friday:
Australia exports, imports, trade balance, Germany industrial orders, France exports, imports, trade balance, current account, EU retail sales, business climate, economic sentiment, industrial sentiment, consumer confidence, Canada unemployment, exports, imports, trade balance, Ivey PMI, U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings and factory orders.