02.06.2015 - Australia's balance of payments deficit has been smaller than forecasted
Today has been published statistics on the balance of payments of Australia. Thus, in the first quarter of this year, current account deficit totaled 10.7 billion Australian dollars, that is 0.2 billion better than analysts' expectations. Balance of payments deficit in the 4th quarter of last year was revised up to 10.2 billion against the previous estimate of 9.6 billion. Trade surplus for the 1st quarter totaled 1.8 billion, which should add 0.5% growth to GDP growth. It is worth noting that tomorrow is forecasted the rise in volatility after the publication of statistics on the growth of GDP in Australia in Q1. We maintain a medium-term negative outlook for the Australian dollar.