Aussie Jumps as Trade Balance Widens More than Analysts Expected
THE TAKEAWAY: Australian Trade Balance Stronger than Expected > Expected to Boost Economic Activity > Australian Dollar Strengthened
Beating expectations, the Australian trade balance report for the month of December rallied the Aussie dollar, leading the AUDUSD to its highest level since the end of October. Against expectations of a contraction in the surplus to A$ 1.2 billion this month from A$ 1.343 billion last month, the trade balance figure soared to A$ 1.709 billion. This was encouraged by a notable 2.3% increase in exports. In turn, imports rose a comparatively modest 1%. Following the release of the economic figures, the AUDUSD climbed 30 points to 1.0735.
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