Australia’s terms of trade worsened dramatically in Q2 as export prices for coking coal and iron-ore were negotiated sharply lower. Export prices fell 20.6%, much worse than the market forecast of 16%. Import prices also fell, down 6.4%. Forecast was 6%. The Export price index posted its largest quarterly decrease since 1974. index reading stands at 166.5.
AUDUSD falls immediately thru 80c and back to test 7980, taking out small stops in the process.
