Australia Just Posted A Surprise Trade Deficit, And The Aussie Dollar Is Diving

west australia pilbara mine

Photo: :Bron: / Flickr

First Japan goes from net exporter to posting trade deficits. And now… Australia.Here’s the report: In January, the country posted a seasonally adjusted A$673 million deficit vs. expectations of a surplus of A$ 1.5 billion, according to Dow Jones.

The Aussie dollar is instantly falling on the news.

We’d caution that pretty much all January stats are a little bit suspect due to the timing of the Chinese New Year. But still. It’s a surprise, and perhaps worrisome.

This one-year chart does show that a deficit happened last year, although not as deep.


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