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Australia Q1 current account deficit in line with expectations

By FXstreet.com,  June 04, 2012, 09:38:00 PM EDT

FXstreet.com (Barcelona) - Australia Q1 current account balance stood at -$14.9bn against consensus for deficit of $14.85bn and compared to 8.37bn in the previous quarter. Net exports fell to -0.50pp, range of forecasts was around -0.7pp. "Outcome is unlikely to sway RBA as it doesn't cover developments over May (RBA rate cut, escalation in Eu crisis)" explains Amanda Tan, Analyst at IFR Markets.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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