Aussie Aug Trade Balance surplus arrives below estimates, weighs on AUD

• AUSTRALIA JULY BALANCE GOODS/SVCS A$+4,607 MLN, S/ADJ (REUTERS POLL: A$+5,400 MLN)
• 02-Sep-2020 19:30:01 - AUSTRALIA JULY GOODS/SERVICES EXPORTS -4 PCT M/M, SEASONALLY ADJUSTED
• 02-Sep-2020 19:30:01 - AUSTRALIA JULY GOODS/SERVICES IMPORTS +7 PCT M/M, SEASONALLY ADJUSTED

Description the trade balance

The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.
Review Alex Nekritin's Article - Trading the Aussie with Australia Trade Balance