Published: 2024-03-07T05:47:14.000Z
AUD/USD flows: Trade Data shows import grwoth slowing
FX Analyst
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Australian January exports +1.6% m/m (prior +1.8%) & Imports +1.3% (prior +4.8%)
The Australian February headline trade balance is stronger than in January but confirms the turn in domestic demand as import growth weakens to 1.3% from 4.8%. It does not mean the Australian economy is weak but suggest consumption would be as supportive in economics growth as it does in the 2023 when rate hikes and inflationary pressure seem to be neglected by Australians.
While regional sentiment remains soft, AUD/USD benefited from softer USD and is trading 0.2% higher at 0.6577.