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by ForexNewsNow Team on December 2, 2010

Australian trade balance surplus exceeds October expectations

NEW YORK (Forex News Now) – The Australian trade balance surplus was far more positive than in October than forecast, data showed on Thursday in an event that could have an impact on currency market trading.

The monthly report released by the Australian Bureau of Statistics showed that the value of exports exceeded the value of imports by some A$2.63 billion (US$2.55b) in October, up from the revised September total of A$1.81 billion.

The October figure was also much higher than the consensus forecast of A$2.07 billion reported by major realtime forex news outlets.

Despite the good news the Australian dollar fell against the greenback on Thursday: AUD/USD traded at 0.9679 at around 6:45 A.M., GMT, down 0.05% for the day.

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