Australia’s trade surplus swelled to a record as mineral exporters cashed in on resurgent iron ore prices, highlighting the nation’s connection to sectors of China’s economy benefiting from fiscal stimulus.

SYDNEY (Reuters) - Australia extended its record run of trade surpluses in May as stellar prices for the country's top export earner, iron ore, showered the government with more cash to revive a slowing economy even as it pursues fiscal discipline.

Australia has a two-speed economy: iron ore exports are roaring along and services industries are piling on workers, but the rest of the economy, and especially construction and manufacturing, is in real trouble.

SYDNEY (Reuters) - The Australian and New Zealand dollars steadied against their U.S. counterpart on Wednesday, as global growth worries rekindled speculation of aggressive easing from the Federal Reserve and drove Treasury yields lower.

OTTAWA — Canada posted its first trade surplus since last summer in May as the auto sector helped boost exports to a record level and the economy continued to show signs of rebounding.

The Australian share market is expected to start the day with very little momentum, but is getting close to the record high it reached on November 1, 2007.