Australia Trade Surplus increases in May, AUD/USD remains pressured around mid-0.6600s
|According to the latest Aussie foreign trade data published by the Australian Bureau of Statistics, Australia’s trade surplus rose more than expected in May.
That said, the headline Goods/Services Trade Balance came in at 11,791M MoM for May, compared with the expectations of 10,500M and 11,158M prior.
Further details reveal that Australia May Goods/Services Exports rose 4.0% on a monthly basis while reversing the previous contraction of 5.0%.
That said, the country’s May Goods/Services Imports rose 2% MoM and seasonally adjusted vs. 2.0% booked in April.
AUD/USD appears unimpressed
Despite the upbeat Aussie data, AUD/USD remains pressured around the intraday low near 0.6650, keeping the previous day’s U-turn from the weekly top.
Also read: AUD/USD awaits Australia trade data around 0.6650 as China woes, hawkish Fed clues lure sellers
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