Aussie Trade Balance beats expectations, supports AUD

Australia's Trade Balance has been released as follows:

For March 2022, the data beat the expected 8500m surplus with a surplus of 9,314mn AUD vs. the prior 7457m surplus. Exports 0% MoM vs. the expected 2.9%, prior 0%.
Imports -5% MoM vs. the expected -4.5%, prior 12%.

AUD/USD is a touch firmer on the release. 

More to come...

About Aussie Trade Balance

The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.