Australian Trade Deficit Shocker After Surplus Expected

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    Commodities and the Australian dollar have been on…



    While copper is not big in the Australian metal mix it is indicative of commodity demand and correlates with the AUD.

    For your consideration via @ValkyFX ‘Copper turned heavy last hour or so. Been very well correlated with $AUDUSD over last month.’


    [b]Weekly Australian consumer sentiment data via ANZ and Roy Morgan
    122.0 up last week’s 116.5 – highest it has been since November of 2013
    MA (4 weeks) 117.4

    ANZ :

    Confidence has been trending higher since the low for 2017 in late August. It is encouraging that consumers seemed willing to overlook their high debt burden, moderating house price gains and the impact of higher petrol prices. We think the continued strong growth in employment is the key driver. We’ll find out in February (with the next wages data) whether a pick-up in wage growth has also contributed to the gain in sentiment.”

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