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Aussie Dollar hit on poor trade figures

Posted by Marge Maresca on Oct 1, 2013 10:17:00 PM

Asian Session Recap

1 October 2013

0130 GMT  Australia August Building Approvals -4.7% m/m +7.7% y/y.       

                 Australia August Trade Deficit A$815M vs. estimated -400M

The Aussie Dollar retreated from a one-week high after the reports showed a larger than expected deficit in August.  The trade deficit in Australia was A$815 million ($764 million) in August from a revised A$1.38 billion the previous month.  That compares with the median estimate for a A$400 million shortfall by economists surveyed. Building approvals also rose less than analysts forecasts. A separate report showed the number of permits granted to build or renovate houses and apartments rose 7.7 percent in August from a year earlier, missing analyst forecasts for a 12.8 percent gain. The Aud fell from 0.9400 to 0.9370 after the news hit the wires. 

Euro has taken a breather after posting 8 month highs in its previous session.  The single currency has been contained inside a 20 point trading range as the focus now shifts onto the ECB’s policy meeting.  GBP has also traded in a narrow range; 1.6165/85. 

Upcoming Economic data;

0830 GMT UK Construction PMI

1145 GMT ECB Policy Meeting

1215 GMT ADP Non-Farm Employment

1230 GMT ECB Press Conference

Session Ranges;

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Margaret Maresca






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