Australia's latest GDP figures just dropped, and the net export component came in at -0.1. That's a miss from the expected flat reading of 0.0, and notably weaker than the previous quarter's positive 0.1 contribution.

This shift into negative territory suggests trade headwinds are starting to drag on the Australian economy. With exports underperforming and imports potentially staying strong, we're seeing a reversal in what was previously a supportive factor for growth.

For traders watching AUD pairs, this data point adds to the mounting evidence that Australia's economic momentum might be cooling. The negative net export reading could influence RBA policy considerations down the line, especially if this trend continues in coming quarters.