Australian export/import prices
– Prior was +3.5% q/q
– Import price index +0.2% vs +0.4% q/q expected
– Prior import price index was -1.0% q/q
That’s a big jump but it was expected and AUD hasn’t reacted. It’s largely due to a jump in the prices in coal and steel. Metals analysts are skeptical that the high prices can last but skepticism is often the bedrock of a long-lasting rally.
