Aussie Close to Weekly Low Friday Morning - 20.4.2012

The Australian dollar fell yesterday below its 20-day moving average curve to 1.0313 and traded in the morning against the greenback in a narrow range 1.0308-1.0345, having few support after foreign trade price indexed were released. The Bureau of Statistic reported the nation’s export price index dropped by 7% in the first quarter of 2012, while import prices fell by 1.2%. The data illustrated continuing decline in exports over the first months of the year, as well as a less sharp drop in imports, which resulted in a trade deficit of 480 million Australian dollars in February 2012. Over the current week the Australian dollar has been trading in a narrow range of 1.0304-1.0418 against the US counterpart.