Balance of Payments Current Account for the June quarter
AUD - -9.6bn ... MISS, bigger deficit than expected
- expected AUD -7.5bn, prior AUD -3.1bn
Net exports as a % of GDP 0.30% ... BEAT (this is a direct input into the GDP data due tomorrow, adds 0.3 pt ... which is a pretty big deal as in Q1 this subtracted 0.7 ppts ... and its also a big deal because yesterdays miss on inventory will subtract from the GDP result)
- expected 0.0, prior -0.70
AUD popping higher on the data release ...
More:
- terms of trade down 6.0% q/q
- And, another input to the GDP, Australian government spending +1.2% q/q (while total public investment/capex up 11.9% q/q)
These results will be enough to see some banks bolster their forecasts fro the June quarter GDP result due tomorrow.
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And later ... even MOAR ...
