AUD Drops as Trade Balance Deficit Unexpectedly High

The Australian dollar dropped today, trading near this year’s lows, as a government report showed that the nation’s trade balance deficit in March was bigger than estimated by specialists.

Australia’s trade balance registered a deficit of A$1.587 billion in March, compared to experts’ forecast of A$1.380 billion. The February shortage was revised from A$0.480 billion to A$0.754 billion. The poor data made traders afraid that Australia’s economic growth is losing steam.



The Aussie, together with other growth-related currencies, suffers from the ever-growing concern about the future of Europe. Greek parties were unable to reach agreement and for a new government after the weekend’s election. The political turmoil added to worries that the most-indebted country of the European Union may leave the eurozone. Fears rule the Forex market and commodity currencies are depressed.

AUD/USD fell from 1.0196 to 1.0102 as of 23:40 GMT today, reaching the low of 1.0088 intraday — the lowest level since December 29. AUD/JPY declined from 81.45 to 80.64, while the low of 80.44 hasn’t been seen since January 20. EUR/AUD was up from 1.2796 to 1.2862.

If you have any questions, comments or opinions regarding the Australian Dollar, feel free to post them using the commentary form below

The Australian dollar dropped today, trading near this year’s lows, as a government report showed that the nation’s trade balance deficit in March was bigger than estimated by specialists.

Australia’s trade balance registered a deficit of A$1.587 billion in March, compared to experts’ forecast of A$1.380 billion. The February shortage was revised from A$0.480 billion to A$0.754 billion. The poor data made traders afraid that Australia’s economic growth is losing steam.



The Aussie, together with other growth-related currencies, suffers from the ever-growing concern about the future of Europe. Greek parties were unable to reach agreement and for a new government after the weekend’s election. The political turmoil added to worries that the most-indebted country of the European Union may leave the eurozone. Fears rule the Forex market and commodity currencies are depressed.

AUD/USD fell from 1.0196 to 1.0102 as of 23:40 GMT today, reaching the low of 1.0088 intraday — the lowest level since December 29. AUD/JPY declined from 81.45 to 80.64, while the low of 80.44 hasn’t been seen since January 20. EUR/AUD was up from 1.2796 to 1.2862.

If you have any questions, comments or opinions regarding the Australian Dollar, feel free to post them using the commentary form below