Australia’s Record Trade Surplus May Jolt Rates Traders: ChartBy
Australia reported its widest trade surplus on record Thursday, fueled by a revival in prices for key commodities iron ore and coal. Still, the turnaround in the steelmaking material -- which accounts for about a fifth of the nation’s goods exports -- has been having little impact on the outlook for markets. Interest-rate traders are clinging to expectations the Reserve Bank will be on hold for at least a year, even after iron ore climbed about 50 percent over the past three months to levels last seen in 2014.
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