Australia's trade surplus widens sharply in September, crushing forecasts as exports jump 7.9%

[Data Concept]
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Australia's trade surplus dramatically widened in September, reaching AUD 3.94 billion. This figure significantly exceeds the revised surplus of AUD 1.11 billion recorded in August, and also easily beat market forecasts of AUD 3.85 billion.

The substantial improvement was primarily fueled by a 7.9% surge in exports. This export boom was led by higher gold shipments, which were boosted by rising bullion prices throughout the month. Meanwhile, imports also grew by 1.1%, hitting record levels amid resilient domestic demand ahead of the holiday season.

The S&P/ASX 200 Index [https://seekingalpha.com/symbol/AS51#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews] rose 0.29% to around 8,850 in early Thursday trade, snapping a two-session losing streak. The Australian dollar [https://seekingalpha.com/symbol/AUD:USD#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews] steadied around $0.651 on Thursday, holding its recent gain, as stronger-than-expected trade data supported sentiment.

ETFs: (NYSEARCA:EWA [https://seekingalpha.com/symbol/EWA#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]), (NYSEARCA:FXA [https://seekingalpha.com/symbol/FXA#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]), (NYSEARCA:FLAU [https://seekingalpha.com/symbol/FLAU#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]).

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