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Australian Trade Balance deficit grow to $3.20 billion

Tuesday, Aug 02 2016

In trend terms, the balance on goods and services was a deficit of $2,359m in June 2016, a decrease of $14m (1%) on the deficit in May 2016. In seasonally adjusted terms, the balance on goods and services was a deficit of $3,195m in June 2016, an increase of $777m (32%) on the deficit in May 2016. In seasonally adjusted terms, goods and services credits fell $213m (1%) to $25,803m, while goods and services debits rose $564 (2%) to $28,998m.

Separate report on Building Approvals showed that in seasonally adjusted terms, total dwelling approvals decreased 2.9 per cent, with both total other residential dwelling approvals (3.4 per cent) and total houses (2.4 per cent) recording falls. The value of total building approved rose 1.2 per cent in June, in trend terms, and has risen for six months. The value of residential building rose 0.1 per cent while non-residential building rose 3.7 per cent.

 

Aussie is currently being traded around 0.7530 area. Pair is likely to find support around 0.75 handle and resistance above 0.76 level.

More in this category: « US Manufacturing PMI missed market forecasts RBA cut interest rate to 1.50% »

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