The headline figure was well shy of forecasts for a deficit of AUD200 million following the downwardly revised AUD780 million deficit in April.
Exports were down AUD1.30 billion or 5.0% on month to AUD26.681 billion.
The currency advanced on Tuesday after the Reserve Bank of
The Australian dollar fell to 0.9458 against the US dollar, 1.4456 against the euro and 1.0062 against the Canadian dollar, from early highs of 0.9497, 1.4398 and 1.0098, respectively. If the aussie extends its downtrend, it is likely to find support around 0.93 against the greenback, 1.46 against the euro and 0.99 against the loonie.
Moving away from an early multi-week high of 1.0836 against the NZ dollar, the Australian dollar eased to 1.0800. At yesterday's close, the aussie was trading at 1.0814 against the kiwi. The next possible downside target for the aussie-kiwi pair lies around the 1.06 level.
A survey by ANZ showed that the
Against the yen, the aussie slipped to 96.11 from an early high of 96.44. The pair was quoted at 96.38 at yesterday's close. The aussie may test support near the 95.04 zone.
Looking ahead, Eurozone PPI for May is due in the European session.
The US ADP private sector employment report for June and factory orders for May are due to be released in the
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