Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Australia’s trade surplus on goods experienced a sharp decline in August 2024, driven largely by a steep fall in gold exports. According to data released by the Australian Bureau of Statistics (ABS), the surplus narrowed to A$1.8 billion ($1.19 billion), down significantly from a revised A$6.6 billion in July. The figure came in far below market expectations, which had projected a surplus of around A$6.2 billion.
The downturn was primarily fueled by a substantial drop in exports. Overall, Australian exports fell 7.8% in August, with non-monetary gold leading the slide, tumbling 47% after several months of strong performance. Gold, often considered a major contributor to trade surpluses, has historically offset weaker demand in other commodity categories, making this sudden decline a key factor behind the weaker-than-anticipated results.
Imports, on the other hand, climbed 3.2% during the same period. Growth was recorded across multiple sectors, including consumer goods, aircraft, and telecommunications equipment, highlighting sustained demand within the domestic economy. This surge in imports compounded the effects of declining exports, further shrinking the overall trade surplus.
The unexpected drop raises concerns about the volatility of Australia’s export market, particularly in commodities like gold that are susceptible to rapid shifts in global demand and pricing. Economists note that while iron ore and energy exports remain stable drivers of trade revenue, fluctuations in gold shipments can significantly impact month-to-month balances.
The weaker trade figures could weigh on Australia’s near-term economic outlook, as trade surpluses have been an important buffer against external headwinds such as global inflationary pressures and slowing growth in major trading partners, including China. Market analysts suggest that unless exports rebound in coming months, the narrowing surplus may influence monetary policy considerations and economic forecasts for the remainder of 2024.
