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Australia shows trade surplus, but soft house prices

March Australian trade balance came at AUD +307 million vs flat expectations. Exports were up by 1% vs 3% last February, while imports stood at -1% vs the same -1% reduction from February. Meanwhile, Australia house price index increased by a mere +0.1% in Q1, with market expectations for a +2.0% following a +2% read in the last quarter of 2013.
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