Ella 
The latest Australian trade figures released by the Australian Bureau of Statistics showed that Australia’s trade surplus narrowed to A$8.039 billion from an expected A$10.0 billion, from A$11.321 billion previously.
More breakdown data showed that Australia’s exports of goods/services fell at a monthly rate of -2.0% in July.
That said, Australia’s imports of goods/services rose 3% monthly in July, compared with -4.0% in June.
AUD/USD is under pressure near 0.6380, while consolidation from late Wednesday’s rebound from year-to-date lows eased.
AUD/USD encountered resistance at the annual low of 0.6400 and remained on the defensive. Australia/China trade data and the speech of Reserve Bank of Australia Governor Philip Lowe attracted attention
The Australian Bureau of Statistics releases the trade account, which refers to the balance between imports and exports of Australian goods. Export data provides a good indication of Australia’s economic growth, while import data indicates the state of domestic demand. The trade account can reflect net export performance in advance. If Australian export demand holds steady, the trade balance will see positive growth, which will be positive for AUD/USD.
