Australia’s proceeds from the export of energy resources grew by 27% the last financial year, thus reaching $175B.
According to the BREE’s report the proceeds from the export of iron ore grew by 56% (up to $54B) in comparison with the previous reporting period. Quentin Grafton, Chief Economist of the BREE, says that the proceeds growth became possible due to an increase in the global prices on coal, iron ore, natural gas, oil and gold and other recourses. However the export profit increase is partially compensated by the Australian Dollar, which is 13% stronger than a year ago.
FOREX.
According to the Department of Masterforex-V trading system , AUDUSD keeps retracing in mid-term perspective in the form of wave c(C ) H4. 1.0100 is the closest target. A rally can be considered after the price breaks above the MF pivot and sloping channel (as shown below):
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