The Aussie trade balance released by the Australian Bureau of Statistics is out as follows:

• Australia December balance goods/services A$+12,237 mln, s/adj (Reuters poll: A$+12,500 mln).
• Goods/services exports -1 pct MoM, seasonally adjusted.
• Goods/services imports +1 pct MoM, seasonally adjusted.

AUD/USD update

The markets are waiting for the Reserve Bank of Australia's interest rate decision and AUD/USD is holding in familiar ranges on the data.

AUD/USD licks its wounds below 0.6900 with eyes on RBA Interest Rate Decision, Fed’s Powell

About the 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.