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Australian Trade Balance deficit narrowed to $2.41 billion

Thursday, Sep 08 2016

In trend terms, Australian balance on goods and services was a deficit of $2,485m in July 2016, an increase of $62m (3%) on the deficit in June 2016. In seasonally adjusted terms, the balance on goods and services was a deficit of $2,410m in July 2016, a decrease of $840m (26%) on the deficit in June 2016.

In seasonally adjusted terms, goods and services credits rose $719m (3%) to $26,425m. Non-monetary gold rose $912m (62%), rural goods rose $42m (1%) and net exports of goods under merchanting rose $6m (21%). Non-rural goods fell $249m (2%). Services credits rose $8m. In seasonally adjusted terms, goods and services debits fell $122m to $28,835m. Consumption goods fell $511m (6%). Intermediate and other merchandise goods rose $231m (3%), capital goods rose $78m (2%) and non-monetary gold rose $30m (6%). Services debits rose $50m (1%).

 

Aussie is currently being traded around 0.7680 area. Pair is likely to find support around 0.7650 and resistance above 0.7730 level.

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