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Forex Flash: Australian budget probably a non-mover for the Aussie - NAB

FXstreet.com (Barcelona) - In Australia, the Federal Government will release the 2013-14 Budget at 7:30pm local time, that is 9.30GMT, notes NAB strategists in their daily note to customers.

NAB expands: "Treasurer Swan is expected to announce that he now expects a cash budget deficit of $16.5bn for 2012-13 according to the market median estimate (NAB is $15bn), and $10bn for 2013-14 (NAB $5bn). We doubt that there will be anything of particular sensitivity for the currency and bond markets, though it is notable that NAB continues to field external client enquiries regarding the sanctity of the sovereign’s AAA credit rating."

Forex: AUD/USD closes below parity for first time since June ‘12

The Aussie continued its decline today, closing down 47 pips at 0.9954. This was the first time the pair has closed below parity since all the way back in June 2012. Economic data out of Australia will be light in the coming session. However, we will see NZD Retail Sales, as well as a very busy European economic release schedule which could also have an influence on future direction.
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Forex: US Dollar Index adds to gains, eyes resistance at 83.50

The US Dollar Index closed the day slightly higher, up six pips at 83.32. The DXY traded as high as 83.45 at one point but was unable to hold onto all of its gains and leaked slightly lower at the end of the day. Retail Sales data out of the US beat expectations, coming in at +0.1% actual vs. -0.3% forecast. The coming European session will be busy with the German Zew due out at at 9:00GMT.
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