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Australia’s trade surplus narrows more-than-expected

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Forexpros - Australia's trade surplus narrowed more-than-expected in June, official data showed on Wednesday.

In a report, the Australian Bureau of Statistics said that Australia's trade surplus narrowed to a seasonally adjusted AUD2.05 billion from AUD2.70 billion in May, whose figure was revised up from AUD2.33 billion.

Analysts had expected Australia's trade surplus to narrow to AUD2.20 billion in June.

The data showed that exports totaled AUD26.41 billion in June, while imports came in at AUD24.35 billion.

Following the release of the data, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.4% to trade at 1.0735.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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