Commodity producing countries under pressure (political/economic - Australia) - (update 4) July 2010 Trade surplus less than estimates

Australia's trade surplus weak in July 2010 @ AUD$1.89bn against the market consensus @ AUD$3.10bn.

Exports: down 4.5% in July, imports up 1.6%, weaker than expected.

Declines in coking coal and ore prices/volumes recorded during the month.

Imports: consumption goods down. Six bought fighter jets (wonderful!) which then pushed imports up 8.7%, the goverment buying military hardware was the only import rise for July 2010

ABS

Any feverish dip buying on YEN and USD crosses by over leveraged/margin Japanese traders, will be caught in a bull trap.