Australia Trade Surplus increases in May, AUD/USD remains pressured around mid-0.6600s

Anil Panchal FXStreet

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

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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