AUD/USD flows: Trade Surplus while export and import contract

The Australian trade balance came in stronger than expected but it is because of weak export and weaker import. The contraction in import points to weak domestic demand and the slip in export will be as impactful towards the Australian economy as it is one of the pillars of its economics strength. Regional equities are mostly positive expect Chinese down less than 0.1%, U.S. major indexes are in the green.

AUD/USD is trading 0.22% higher at 0.6662.