Aussie Drops on Trade Data - 8.5.2012

The Australian currency depreciated in the morning against the US counterpart, erasing yesterday’s gains as the Bureau of Statistics reported the nation’s trade balance figures for March. According to the report the volume of imports exceeded exports by more than 1.5 billion Australian dollars in seasonally adjusted figures, bringing the first quarter trade deficit to almost 3.2 billion Australian dollars. Moreover Australia’s Treasurer Wayne Swan announces today the budget for the year starting in July 2012. Pair AUD/USD fell from 1.0217 to 1.0165.