5/4/2021 1:33:57 AM GMT | By Ross J Burland
The Australian Trade Balance data for March arrived at AUD 5574m in surplus but misses estimates as follows:
Australia Trade Balance (Mar):A$5574Mln(est A$8200Mln, prevR A$7595Mln).
Exports (MoM) Mar: -2% (est 4%, prev -1%).
Imports (MoM) Mar: 4% (est 8%, prev 5%).
The Aussie is pressured slightly in this holiday trade.
AUD/USD technical analysis
The bulls have been enjoying a bout of USD weakness and stranger iron at the start of the week which has taken the price up to test a wall of resistance which could lead to a bullish extension if the confluence structure gives out.
The entire Australian Capital Territory is defined as a capital city.
Greater Sydney had the largest net loss (-31,600 people) of all the capitals from internal migration in 2020. Melbourne lost a net 26,100 internal migrants, the largest annual net loss for Victoria’s capital on record.
Brisbane (13,000 people), Perth (3,500) and Canberra (300) were the only capital cities to record net gains over 2020.
In 2020, Victoria had its first net interstate loss (-12,700 people) for a calendar year since 2008. South Australia had its first net interstate migration gain (100) in almost 30 years, while Western Australia (1,400) recorded its first annual net gain since 2013. Queensland (30,000) had its highest net gain since 2004.
Michaela Meade
A state government proposal for a 500-bed COVID-19 quarantine hub in Mickleham has divided the community.
Last week, Acting Premier James Merlino revealed that a site on Donnybrook Road was the state government’s preferred location for the hub, which will house returned travellers.
The site is next to the existing federal government-owned Mickleham Post Entry Quarantine Facility.
The state government has committed $15 million to design the hub, however its construction is dependent on federal government approval and funding.
The state government said the hub would cost about $200 million to build, with construction to begin in September if federal approval is granted.
The global economic recovery, a rush to make renewable energy and insatiable appetite from China has sent Australian mineral exports to a record high, including iron ore which now accounts for 39 per cent of all goods exported. Australia’s trade surplus hit $8.4 billion as overall metalliferous ores reached a record high in March of .
7.814
The number of owner occupier first home buyer loan commitments fell 3.1 per cent to 15,623 in March 2021 (seasonally adjusted). Commitments remained at a historically elevated level and was 58.3 per cent higher than March 2020.
New South Wales, Victoria and Queensland accounted for most of the rise in investor housing loan commitments and there were rises in all states and territories except the Australian Capital Territory.
Owner occupier housing loan commitments rose in the largest states but generally fell in the smaller ones. An 8.2 per cent rise in New South Wales accounted for most of the national rise, while Victoria rose 1.6 per cent and Queensland rose 1.1 per cent.