Trending Articles- Bitcoin Returns to $79,000 Level. Prediction Markets Bullish on Breaking $80,000 in April
- Gold holds steady near $4,600 as Fed rate decision looms
- Fed FOMC Meeting Is Approaching: Where Is the Focus? Will There Be More Rate Cuts This Year?
- Goldman Sachs: Structurally Bullish on Gold to $5,400, But Warns of Short-Term Pullback
- Today’s Market Recap: Fed Dissent and AI Capex Surges Define Volatile Earnings Week
- WTI sticks to modest gains above $94.00 as Hormuz standoff fuels supply concerns
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.
