BOC WILL BE CONSDIERING FURTHER RATE CUTS

BOC DOESN'T SEE A RECESSION, RATHER SLOW GROWTH

BOC SAYS WEAKER CAD DRIVEN BY USD STRENGTH

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Trade Surplus Surges On Weaker Consumer Good Imports

AUSTRALIA DATA

The November trade data saw a healthy rise in the trade surplus to A$11.4bn, versus A$7.3bn expected. Exports rose 1.7% m/m (prior 0.8%), while imports fell -7.9% m/m (prior -2.9%).

  • On the export side, commodity exports were mixed. Iron ore down 1.1% m/m, along with natural gas (-2.6%). However, coal exports rose 8.8% m/m. Agricultural exports were also a touch higher (0.3% m/m).
  • On the import side, we saw a 14%m/m drop in consumer imports, while capital imports were down nearly 3%.
  • This hints at a softer domestic demand backdrop, although the levels of imports are coming off elevated levels seen at the end of Q3. Also note retail sales data for Nov, from earlier in the week, was still firm.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.