Australian Trade Balance deficit widen in August
In seasonally adjusted terms, the balance on goods and services was a deficit of $3,095m in August 2015, an increase of $303m (11%) on the deficit in July 2015. Analysts were predicting deficit of $2.48 billion.
Goods and services credits fell $130m to $26,509m. Non-monetary gold fell $316m (19%). Rural goods rose $96m (3%) and non-rural goods rose $77m. Net exports of goods under merchanting remained steady at $36m. Services credits rose $13m.
Goods and services debits rose $173m (1%) to $29,604m. Consumption goods rose $139m (2%), intermediate and other merchandise goods rose $67m (1%) and non-monetary gold rose $26m (8%). Capital goods fell $30m (1%). Services debits fell $29m.
Aussie is currently being traded few points above 0.7120 level. Pair is likely to find support around 0.7080 area and resistance above 0.7160 level. Later today, in the US session, Trade Balance figures are scheduled for a release.
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