Trending Articles- Gold Price Forecast: PCE Data Weakens Fed Rate Hike Expectations, Can Gold Price Hold Steady at $4,000?
- $4,050: Gold dives to fresh two-week low as Fed rate hike bets boost US Dollar
- Gold Price Forecast: Gold Price Falls Below $4,000, PCE Data May Push Gold Down to $3,900
- Gold Price Trend Forecast: Gold Price Risks Falling Below $4,000, PCE Data Is Key
- Deutsche Bank Slashes Gold Price Forecast by 22%: Wall Street Bulls Retreat, Fed Rate Hike Expectations Become Biggest Drag
- Qatar and Pakistan: High-level committee agrees on roadmap to final deal within 60 days
Investing.com-- Australia’s trade balance rose more than expected in October after hitting a four-year low in the prior month, as commodity exports rose amid improving economic conditions and stimulus measures in top trading partner China.
Trade balance rose to a surplus of A$5.95 billion ($3.83 billion) in October, data from the Australian Bureau of Statistics showed on Thursday. The reading was stronger than expectations for a surplus of A$4.58 billion, and higher from the A$4.61 billion seen in the prior month.
Overall exports rose 3.6% month-on-month in October, driven by a higher demand of mineral fuel exports. Metal ores and minerals, which are the country's biggest exports, rose 0.5% during the month.
The improved export readings come amid improving economic conditions in China, Australia's biggest export destination. Beijing mobilized a slew of aggressive stimulus measures in the past two months, with recent data indicating a pick-up in Chinese business activity.
Australia's stronger trade balance was also driven by soft imports, as local demand for overseas goods remained weak. Australian imports inched 0.1% higher month-on-month in October, on higher demand for processed industrial supplies.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
