Australia's trade surplus decreased to 2,968M MoM in February versus 5,600M expected and 5,156M (revised from 5,620M) in the previous reading, according to the latest foreign trade data published by the Australian Bureau of Statistics on Thursday. Further details reveal that Australia's Exports fell by 3.6% MoM in February from 0.8% (revised from 1.3%) seen a month earlier.
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The data suggests that momentum from earlier in the year has faded, as companies reported weaker market conditions. While new orders continued to grow, the pace slowed for a second month, hitting its weakest point since November.
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Australia Trade Balance (MoM) below forecasts (5600M) in February: Actual (2968M)
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Australia Imports (MoM) up to 1.6% in February from previous -0.3%
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Australia Exports (MoM) declined to -3.6% in February from previous 1.3%
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Japan Jibun Bank Services PMI above forecasts (49.5) in March: Actual (50)
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Australian trade data for February 2025 Australia trade balance for February 7.46bn AUD surplus expected surplus 5.6bn AUD prior surplus 5.62bn AUD exports % m/m prior +1.3% imports % m/m prior -0.3% more to come This article was written by Eamonn Sheridan at www.forexlive.com.
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The dollar slid broadly on Thursday, while the euro was steady after U.S. President Donald Trump announced more aggressive-than-anticipated tariffs against major trading partners, jolting the markets as investors sought safe haven yen and Swiss franc.
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New Zealand ANZ Commodity Price dipped from previous 3% to -0.4% in March
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Ireland Purchasing Manager Index Services: 55.3 (March) vs 53.2
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Trump announced a 10% baseline tariff on all imports, with higher rates for major trading partners, including 34% on China and 20% on the EU.
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The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
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Canadian Prime Minister Mark Carney said on Wednesday that the country will fight US President Donald Trump's tariffs with countermeasures, per Reuters.
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Trump has announced a 10% baseline tariff on all U.S. imports, along with higher "reciprocal" tariffs on about 60 countries, including key allies and major trade partners like China (34%) and the European Union (20%).
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Australia Judo Bank Composite PMI up to 51.6 in March from previous 51.3
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Australia Judo Bank Services PMI came in at 51.6, above forecasts (51.2) in March
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The stand out winner across major FX is JPY. USD/JPY is down more than 150 points from earlier highs, dropping under 148.80 as I update.
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White House press secretary Karoline Leavitt confirms that the 34 percent tariff on China is ON TOP of the previous 20 percent. So that means the rate on China will be *54* percent when these tariffs take effect.
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more to come This article was written by Eamonn Sheridan at www.forexlive.com.
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South Korea FX Reserves climbed from previous 409.21B to 409.66B in March
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