China’s Trade Deficit Makes Aussie Weaker
The Australian dollar slid today as China posted the unexpected trade deficit after the Lunar New Year holiday disrupted exports.
China posted the trade balance deficit of $7.3 billion in February, while in January the trade balance posted the surplus of $6.5 billion. The median forecast was for a $4.9 billion surplus. The annual growth of exports was only 2.4 percent, the slowest pace since November 2009, while imports advanced 19.4 percent.
AUD/USD fell from 1.0105 to 1.0039 as of 12:26 GMT today.
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Earlier News About the Australian Dollar:
- Australian Dollar Weakened by Strong Oil Prices (2011-03-08)
- Aussie Declines vs. Greenback & Euro (2011-03-04)
- Aussie's Rally Stalls as Exports & Building Permits Decline (2011-03-03)
- Australian Dollar Fell as Interest Rates Remain Unchanged (2011-03-01)
- Aussie Gains as Australian Economy Improves (2011-02-24)