Australian Current Account deficit rose to $10.7 billion
The Australian current account deficit, seasonally adjusted, rose $502m (5%) to $10,741m in the March quarter 2015. This was very much in line with market expectations. The deficit on the balance of goods and services rose $994m (37%) to $3,701m in the March quarter 2015. The primary income deficit fell $434m (6%) to $6,525m.
In seasonally adjusted chain volume terms, the surplus on goods and services rose $1,816m (24%) from $7,457m in the December quarter 2014 to $9,273m in the March quarter 2015. This is expected to contribute 0.5 percentage points to growth in the March quarter 2015 volume measure of GDP.
Data did not have any major impact on Aussie, with traders awaiting for RBA interest rate decision, which in the end pushed pair higher to near 0.77 handle at the moment of writing. Pair is likely to find support around 0.7650 level and resistance around 0.7750 area. Later today, in the US session, Factory Orders figures will be released.
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