5 Mar 2015
Australian trade balance prints a deficit for the 10th consecutive month – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team shares the key developments in the Australian market – Trade balance, Retail sales data and RBA Deputy Governor Lowe’s comments.
Key Quotes
“AUD/USD was not particularly impacted by either China 2015 announcements or the local economic data out of Australia.”
“January trade balance was a deficit for the 10th consecutive month but mainly because imports recovered with a 3% growth vs -1% in the prior month.”
“Exports to China were down 16%, and shipments of oil and iron ore were down 24% and 9% respectively.”
“Australia retail sales were in line with consensus, led by purchases of Clothing, footwear and personal accessory category of 0.7%.”
“RBA Dep Gov Lowe noted AUD is now much closer to fair value but still too high for the state of the economy, elevated by easy policies of other central banks, adding households are reluctant to take on leverage and reiterating the central bank can ease further if needed.”
Key Quotes
“AUD/USD was not particularly impacted by either China 2015 announcements or the local economic data out of Australia.”
“January trade balance was a deficit for the 10th consecutive month but mainly because imports recovered with a 3% growth vs -1% in the prior month.”
“Exports to China were down 16%, and shipments of oil and iron ore were down 24% and 9% respectively.”
“Australia retail sales were in line with consensus, led by purchases of Clothing, footwear and personal accessory category of 0.7%.”
“RBA Dep Gov Lowe noted AUD is now much closer to fair value but still too high for the state of the economy, elevated by easy policies of other central banks, adding households are reluctant to take on leverage and reiterating the central bank can ease further if needed.”