04.11.2015 - ​We expect a decline of the Australian dollar

This morning was published statistics on the trade balance of Australia, where the deficit fell in September to 2.32 billion against the previous level of 2.71 billion. Analysts had forecasted growth of deficit up to 3 billion. It is worth noting that the recent drop in prices for iron ore, coal, gold and other exports have a negative impact on the dynamics trade balance in October and November. This fact offsets the positive statement by the head of the Reserve Bank of Australia on improvement of the growth prospects of the economy. We expect the resumption of the fall in the coming days with the potential of reaching the targets at 0.7080, 0.7000 and 0.6900. We also expect a decline in the medium term.

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