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Australian Trade Balance deficit narrowed to $1.23 billion

Thursday, Nov 03 2016
Australian Trade Balance deficit narrowed to $1.23 billion

In trend terms, the balance on goods and services was a deficit of $1,784m in September 2016, a decrease of $127m (7%) on the deficit in August 2016. In seasonally adjusted terms, the balance on goods and services was a deficit of $1,227m in September 2016, a decrease of $667m (35%) on the deficit in August 2016. In seasonally adjusted terms, goods and services credits rose $426m (2%) to $27,254m. Non-rural goods rose $578m (4%) and rural goods rose $174m (5%).

Non-monetary gold fell $353m (19%). Net exports of goods under merchanting remained steady at $47m. Services credits rose $29m. In seasonally adjusted terms, goods and services debits fell $241m (1%) to $28,481m. Consumption goods fell $223m (3%), non-monetary gold fell $124m (17%) and capital goods fell $75m (1%). Intermediate and other merchandise goods rose $179m (2%). Services debits rose $3m.

 

Aussie is currently being traded around 0.7670 level. Pair is likely to find support around 0.76 area and resistance above 0.7730 level.

More in this category: « Fed ready for a December rate hike UK Services PMI increased to 54.5 »

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