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Australia’s Oct trade deficit widens worse than estimates

FXStreet (Mumbai) - The Australian Bureau of Statistics (ABS) showed on Thursday, Australia’s trade gap expanded to A$3.31 billion in October, compared to a revised $2.40 billion in Sept, missing forecasts of a $2.60 billion shortfall.

Exports fell 3% from A$829m to A$26,594m on the back of a 6% drop in metals and minerals exports. While imports rose marginally by A$74m to A$29,900m.

AUD/USD fails to resist 0.73 handle on poor Aus trade data

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EUR/USD is going to be a big play with the ECB coming up, while some analysts are seeing no-brainer actions from Draghi, others are more skeptical and feel that Draghi will come out and shock that market, potentially knocking the euro for six.
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