Aus Trade: Imports were the “major swing factor” - Westpac

Andrew Hanlan at Westpac provides his afterthoughts on the Australian trade data, which showed a bigger-than expected rise in the trade surplus.

Key Quotes via FT:

Imports were the “major swing factor” over the past two months.

“Keep in mind that the exchange rate appreciated over the two month period, +2.9% on a TWI basis and +4.1% against the US dollar, thereby placing downward pressure on prices of both imports and exports.”