{"id":118364,"date":"2017-12-19T10:15:52","date_gmt":"2017-12-19T15:15:52","guid":{"rendered":"http:\/\/countingpips.com\/?p=118364"},"modified":"2018-06-01T15:48:21","modified_gmt":"2018-06-01T15:48:21","slug":"audusd-forex-technical-analysis-participants-expects-reduction-in-australias-budget-deficit","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/audusd-forex-technical-analysis-participants-expects-reduction-in-australias-budget-deficit\/","title":{"rendered":"AUDUSD: Forex Technical Analysis – Participants expect reduction in Australia\u2019s budget deficit"},"content":{"rendered":"
December 19, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Market participants expect a reduction in Australia\u2019s budget deficit<\/strong><\/p>\n

The Australian dollar reached a 6-week high on the background of government forecasts to accelerate the reduction in the budget deficit. Will the AUDUSD<\/a> quotes continue to grow?<\/p>\n

The Treasurer of Australia Scott Morrison announced that the state budget deficit will reduce to A$23.6 bln ($18.05 bln) by June 2018. This is markedly lower than the previous estimate of A$29.4 bln. In future, an additional deficit reduction to A$20.5 bln in 2018\/19 is expected and further on- to A$10.2 bln in 2020\/21. Such positive forecasts may allow Australia to maintain the highest AAA credit rating by S&P Global Ratings despite the current “negative” outlook. Significant economic data- the trade balance for November, will come out on January 5, 2018 in Australia.<\/p>\n

\"AUDUSD\"<\/p>\n

On the daily timeframe, AUDUSD: D1<\/b> switched from the falling trend to neutral. An upward correction of quotes is possible in case of the publication of negative economic indicators in the US and positive ones in Australia.<\/p>\n