Track AU Commodity Prices y/y to gauge export income trends and trade balance impacts. Vital for Forex markets.
This is a key indicator of the nation's trade balance with other countries, as rising commodity prices enhance export revenue. Commodities make up more than half of Australia's export earnings. Note that the series calculation formula was modified in November 2009.
What it Measures
Variation in the selling prices of exported commodities.
Usual Effect
A higher 'Actual' figure compared to 'Forecast' is favorable for the currency.
Source & Frequency
Reserve Bank of Australia (latest release) - https://www.rba.gov.au/ • Published monthly, on the first business day following the conclusion of the month.
How Data is Derived
The average selling price of the nation's main commodity exports are sampled and then compared to the previous sampling
Also Known As
Index of Commodity Prices
Acronym
N/A