Quotes from Westpac Institutional Bank:
-Australia's international trade account is set to remain in deficit for an 8th consecutive month in November, following a shortrun of 3 consecutive surpluses in the initial months of 2014.
-The trade deficit is forecast to widen to $2.1bn in November from a $1.3bn deficit in October.
-Export earnings are expected to fall by 2% in the month, a decline of around $550mn. The key negative, a further slide in the iron ore price.
-Total imports of goods and services are expected to increase by 0.7%, with the ABS advising that goods rose by 0.8%.
The material has been provided by InstaForex Company – www.instaforex.com