Australia's Commodity Boom Boosts Trade Surplus Amid Volatility

Australia's trade surplus has made a stunning turnaround, jumping to $1.9 billion in June against market forecasts for a $1.1 billion deficit.

The country's commodity exports surged nearly 10% month-on-month, while imports edged lower by just 0.2%, amplifying the swing in the trade balance by $3 billion relative to consensus expectations.

The Australian dollar found support on the news, but currency markets remained cautious about reading too much into monthly volatility.

Resource-heavy sectors on the ASX saw renewed interest as the data confirmed that commodity flows remain robust for now.