Australia's trade deficit disappointed investors
Today was published statistics on the trade balance in Australia, according to which, the deficit totaled 3.31 billion in October, against 2.40 in September. The median forecast was at 2.61 billion. Exports in the country fell by 3.0%, while imports remained virtually unchanged. Despite this, the Australian dollar is supported by improved expectations about the economy in the near future, as well as GDP growth in the third quarter by 0.9%. In the coming days volatility will be increased, and we may see a drop in prices on the background of a stronger US dollar. Our medium-term outlook remains negative with a potential drop to 0.7000 and 0.6800, despite the recent growth.
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