Australia experienced a decrease in its trade surplus in August, landing at 1,825 million, revised down from 7,310 million to 6,500 million, as reported by the Australian Bureau of Statistics.
In detail, exports from Australia dropped by 7.8% in August, a shift from the previous month’s increase of 2.5%, which was also revised down from 3.3%. On the other hand, imports rose by 3.2% in August, contrasting with a 2.4% decline noted in July, revised from -1.3%.
Market Reaction to Australia’s Trade Balance
Currently, the AUD/USD is up by 0.06%, trading at 0.6616.
Performance of the Australian Dollar Against Major Currencies
The table below outlines the fluctuation of the Australian dollar (AUD) against other major currencies over the past week. Notably, the AUD performed strongly against the Canadian dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.00% | -0.25% | -1.25% | 0.30% | -0.54% | -0.27% | 0.15% | |
| EUR | -0.01% | -0.27% | -1.29% | 0.28% | -0.52% | -0.28% | 0.14% | |
| GBP | 0.25% | 0.27% | -0.97% | 0.55% | -0.28% | 0.02% | 0.45% | |
| JPY | 1.25% | 1.29% | 0.97% | 1.56% | 0.71% | 1.16% | 1.44% | |
| CAD | -0.30% | -0.28% | -0.55% | -1.56% | -0.80% | -0.56% | -0.10% | |
| AUD | 0.54% | 0.52% | 0.28% | -0.71% | 0.80% | 0.56% | 0.69% | |
| NZD | 0.27% | 0.28% | -0.02% | -1.16% | 0.56% | -0.56% | 0.18% | |
| CHF | -0.15% | -0.14% | -0.45% | -1.44% | 0.10% | -0.69% | -0.18% |
This table illustrates the changes in the major currencies against each other. The base currency comes from the left column, while the quoted currency is at the top. For instance, if you look at the Australian dollar and trace across to the US dollar, that box shows the change rate for AUD against USD.
