Aussie Import Data Point To More Surpluses

Forex News Australian import data suggest June will bring country's first "solid trade surplus" of about A$300 million from "mini surplus" of A$12 million in May, ICAP senior economist Matthew Johnson says. "This should be the start of a period of solid surpluses - so long as the terms of trade boost isn't spent on imports"; notes series of "good surpluses" and "never under-estimable" USD likely to keep AUD in 0.90s despite rate expectations now shifting to RBA cuts from hikes. Pair last at 0.9756.