Australian data: Q3 current account misses big time at -2.3bn AUD (expected +6.2bn)

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Australian data: Q3 current account misses big time at -2.3bn AUD (expected +6.2bn)

<p>Australian data for the July, August & September quarter of 2022.</p><p>Current account balance comes in at -2.3 bn AUD</p><ul><li>expected +6.2bn aud</li><li>prior +18.3bn</li></ul><p>Net exports to contribute -0.2% to Q3 GDP</p><ul><li>expected -0.6%</li><li>prior +1.0%</li></ul><p>Australian GDP data for Q3 will be published on Wednesday, 7 December 2022 at 0030 GMT. The data also show that government spending will net detract from the GDP result. That may well be not such a bad thing given the enormous, and welcome, splash of cash to deal with the pandemic in prior years. </p><p>----</p><p>Yet to come from Australia today - Reserve Bank of Australia decision. </p><ul><li><a href="https://www.forexlive.com/centralbank/rba-monetary-policy-decision-is-due-today-preview-20221205/" target="_blank" rel="follow">RBA monetary policy decision is due today - preview</a></li></ul><ul><li><a href="https://www.forexlive.com/centralbank/the-rba-is-expected-to-hike-the-australian-cash-rate-by-25bp-on-tuesday-policy-preview-20221205/" rel="follow" target="_blank" class="article-link">The RBA is expected to hike the Australian cash rate by 25bp on Tuesday - policy preview</a></li></ul><ul class="text-align-start vertical-align-baseline"><li><a href="https://www.forexlive.com/centralbank/westpac-are-forecasting-a-25bp-cash-rate-hike-at-the-rba-meeting-on-december-6-2022-20221202/" rel="follow" target="_blank" class="article-link">Westpac are forecasting a +25bp cash rate hike at the RBA meeting on December 6 2022</a></li><li><a href="https://www.forexlive.com/centralbank/rba-is-expected-to-hike-its-cash-rate-by-25-bps-in-december-february-and-march-to-360-20221129/" rel="follow" target="_blank" class="article-link">National Australia Bank - RBA is expected to hike its cash rate by 25 bps in December, February, and March to 3.60%</a></li><li class="vertical-align-baseline"><p><a href="https://www.forexlive.com/centralbank/week-ahead-highlights-include-opec-rba-boc-china-tradecpi-uni-of-mich-20221203/" rel="follow" target="_self" class="article-link vertical-align-baseline">Week Ahead: highlights include OPEC+, RBA, BoC, China Trade/CPI, Uni. of Mich.</a></p></li></ul><p>Reserve Bank of Australia Governor Lowe </p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: Australian data: Q3 current account misses big time at -2.3bn AUD (expected +6.2bn)

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