Home AUD/USD Hits New Lows as Government Predicts Big Deficit
Forex News Today: Daily Trading News

AUD/USD Hits New Lows as Government Predicts Big Deficit

The Australian dollar is falling as the government is releasing the annual budget, which includes forecasts for the next few years. As expected, this release has a big impact on the Aussie.

AUD/USD dropped from around 0.9975 to 0.9955. Update: the pair hits new lows at 0.9931.

The budget deficit for 2012/13 is now expected to hit  19.4 billion Australian dollars against a surplus of 1.1 billion seen in October

In 2013/14, the deficit is expected to stand to 18 against a surplus of 2.2 billion expected earlier.

GDP is expected to stand at 3% in 2012/2013, drop to 2.75% in 2013/14 and rise again to 3% in 2014/15.

The unemployment rate is expected to stand at around 5.75%. For more, see the AUDUSD forecast.

[do action=”tradingviews” pair=”AUDUSD” interval=”60″/]

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.