Due at 0130 GMT is the Australian trade balance data for May 2021
expected surplus of 10bn AUD
prior surplus 8.028bn AUD
exports prior +3%
import prior -3%
The preliminary data for this was released in June, it showed the trade surplus hit a record high at A$13.3 billion. Iron ore exports climbed substantially.
The data release today should confirm the record trade surplus. Still-rising commodity prices will give export values a lift. Australia's #1 export, iron ore, should show both price and volumes higher yet again.
