Australia data preview - Q4 current account due 0030 GMT

BoP Current Account balance for Q4

• expected AUD -12.2bn, prior was -9.1bn

Preview posted already (comes via ANZ):

• Australia data preview - Q4 current account due Tuesday

Morenow - this from ...

CBA:

• The current account deficit is expected to widen to $11.8bn in the quarter, or around 2.6% of GDP. The widening reflects the trade balance moving from surplus to deficit in the quarter as exports fell and imports rose. We expect net exports to subtract around 0.6ppts from Q4 growth.

And from Westpac:

• During 2017, Australia's current account deficit has been well contained, at 2.0% of GDP in Q3, supported by elevated commodity prices boosting export earnings.
• For Q4, the current account deficit is expected to widen from $9.1bn to $13.0bn, representing 2.9% of GDP.
• Key to this, the trade position deteriorated in Q4. The trade balance swung from a surplus of $2.0bn in Q3 (revised lower from $3.1bn) to a deficit of $0.6bn in Q4. Exports stumbled at the same time as import volumes continued their upward trend (see above). As to the terms of trade, this was broadly flat in the period, we estimate.
• In Q4, the net income deficit is expected to edge higher to $12.4bn from $12.2bn. Note that the deficit has deteriorated from a 2016 average of $8.5bn/qtr as higher commodity prices translate into better returns for offshore investors.