Australia has been publishing unfavorable reports lately. The Australian Statistics Agency shed light on that
the balance of trade narrowed in April to minus 1.59 trln Australian dollars. The value fell much deeper than analysts had calculated: they predicted the trade balance to reach minus 1.38 Australian dollars.
This is the third month in a row when the import-export ratio of Australia has been demonstrating a negative reading. In sober fact, the import volume is not rising in Australia, the thing is that the prices for imported goods are declining because of domestic demand falling. Meanwhile, the output of export-oriented goods suffers most of all, as the overrrated national currency pulls back a competitive power of Australian goods.
Meantime, being prompted by negative findings, the Australian dollar quotes are losing pace versus the greenback. On Tuesday the pair registered its new peak of 2012 - at 1 dollar 0.6 cents.
With a purpose of weakening the Australian dollar rate, the Reserve Bank of Australia got prepared for active steps of smoothing its monetary policy. The experts are waiting for the regulator to put down its interest rate already at the next bank meeting.
