Higher prices
- Change in the selling price of exported commodities
- Released monthly, on the first business day after the month ends
- Commodities account for over half of Australia's export earnings.
- It's a leading indicator of the nation's trade balance with other countries because rising commodity prices boost export income
- Derived via finding the average selling price of the nation's main commodity exports, sampling them and then comparing them to the previous sample
- Number is on the rise after slipping to negative territory in 2017
- Aussie has got bigger things to worry about re China
Check out my initial AUD/USD chart discussion in the blog I've linked to above.