– The Australian dollar traded lower against its U. S. counterpart during Friday’s Asian session on news Australia’s budget deficit for the current fiscal year is expected to be far wider than previously forecast.
In Asian trading Friday, AUD/USD fell 0. 08% to 0. 8920, falling below support at 0. 8928, Wednesday’s low and a three-year low. Next resistance is 0. 9072, Wednesday’s high.
Due to an AUD33 billion collapse in tax revenue, Australia will likely post a budget deficit of AUD30 billion for the current fiscal year, well above the AUD15 billion forecast just eight weeks ago. The deficit for the 2014-15 fiscal year is expected to be AUD24 billion, more than double the initial estimate of AUD10. 9 billion.
For the 2015-16 fiscal, the deficit will be AUD5 billion before disappearing the following year. Other data showed the unemployment rate in the world’s 12th-largest economy is expected to be 6. 25% this year, an increase of 70,000 jobless compared with prior estimates.
Elsewhere, the Australian Bureau of Statistics said that producer price inflation rose just 0. 1% in the second quarter compared with a 0. 3% increase in the first quarter. Analysts had expected PPI to rise 0. 6% last quarter.
Earlier this week, industry data earlier showed that new home sales in Australia rose 3. 4% in June, after a 1. 6% increase the previous month.
Meanwhile, AUD/JPY dropped 0. 27% to 88. 64 while AUD/NZD fell 0. 25% to – offers an extensive set of professional tools for the financial markets.
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Agreed to the Commission on oil and energy parliamentary bill Police National Oil unanimous 13-member ones, and submitted to the Presidency of the Council of Representatives for the purpose of inclusion on the agenda.

Said economic expert, Abdul-Hassan al-Shammari, the importance of governmental plans clear economic vision to support and activate the vital sectors in the country, especially the manufacturing sector.

With tens of millions of potential customers who have only a few of them bank accounts, it has become Iraq represents an ambitious target of banking institutions, especially that the Iraqis are now looking to banking services is greater than those available to them.

Classic central banking degraded which تغلفها conditions of administrative red tape and delay transactions and financial corruption customers louder voices banking specialists in regard to demand to reconsider the law of public banks contend that the law does not fit with the banking climate in Iraq.

BAGHDAD, Aug 1 (KUNA) — After 23 years of Saddam Hussein’s occupation of Kuwait on August 2, 1990, the subsequent Kuwait liberation war and years of post-war tension, relations between the two Arab neighbors are witnessing remarkable improvement.

Announced that the General Secretariat of the Council of Ministers on Thursday, August 8 and Sunday, 11 of the same month, an official holiday occasion of Eid Alaftralambark of, as well as on Friday and Saturday approvers 9 and 10 August.

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