The data keeps on flowing from Australia, today its the January trade balance and retail sales, early Q1 indications
- expected at AUD 2750m
- prior at AUD 3681m
The balance has been in surplus for 12 consecutive months. The most recent result (Dec 2018) showed a big drop in imports.
Preview via ANZ:
- We expect the trade balance to have deteriorated to a surplus of AUD2.6bn in January. This will be driven by a rebound in import values, after a sharp drop in December. Underlying this is a rebound in oil prices and likely stabilisation in car imports. Export values should also improve on the back of higher iron ore prices and an increase in the volume of coal exports
