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Australian Trade Balance deficit narrowed to $2.01 billion

Thursday, Oct 06 2016

In trend terms, the balance on goods and services was a deficit of $2,239m in August 2016, an increase of $8m on the deficit in July 2016. In seasonally adjusted terms, the balance on goods and services was a deficit of $2,010m in August 2016, a decrease of $111m (5%) on the deficit in July 2016. In seasonally adjusted terms, goods and services credits rose $10m to $26,856m. Non-rural goods rose $406m (3%) and rural goods rose $36m (1%).

Non-monetary gold fell $521m (22%). Net exports of goods under merchanting remained steady at $47m. Services credits rose $90m (1%). In seasonally adjusted terms, goods and services debits fell $101m to $28,866m. Intermediate and other merchandise goods fell $295m (3%), capital goods fell $76m (1%) and consumption goods fell $16m. Non-monetary gold rose $218m (42%). Services debits rose $68m (1%).

 

Aussie is currently being traded around 0.76 handle. Pair is likely to find support around 0.7550 area and resistance above 0.7640 level.

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