Australian trade deficit shrinks; house price index jumps
The Australian trade deficit came lower-than-expected at AUD -427 million VS AUD -800 million expected. Surprising was the reduction in imports, down 6% in December vs a +2% rise the previous month. Meanwhile, exports rose by 3% vs 1% in November. In parallel, Australia's house price index was also published, showing a 1.6% rise in the December quarter, a number stronger-than-the flat consensus.