The total value of Australian exports to all countries around the world rose by 0.5% following a 3.5% increase the previous month, to be 15% higher than they...

Jim Vrondas

OzForex

The total value of Australian exports to all countries around the world rose by 0.5% following a 3.5% increase the previous month, to be 15% higher than they were 12 months ago. I am sure this next piece of information, however, is music to a China bulls' ears - the seasonally adjusted value of export sales to China hit a new record high of AUD $8.9 billion - a whopping 50% increase from a year ago! This does not look like a sign that Chinese demand for our exports is diminishing as many have stated, and it's not hard to guess where the export growth is coming from with iron ore volumes reported to be up 27% on the year. So China is still calling on Australia for its resources. But why is the Aussie dollar falling? (VIEW LINK)


Jim Vrondas
Jim Vrondas
Chief Currency & Payment Strategist – Asia Pacific
OzForex

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