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14 May 2013
Forex Flash: Australian budget probably a non-mover for the Aussie - NAB
FXstreet.com (Barcelona) - In Australia, the Federal Government will release the 2013-14 Budget at 7:30pm local time, that is 9.30GMT, notes NAB strategists in their daily note to customers.
NAB expands: "Treasurer Swan is expected to announce that he now expects a cash budget deficit of $16.5bn for 2012-13 according to the market median estimate (NAB is $15bn), and $10bn for 2013-14 (NAB $5bn). We doubt that there will be anything of particular sensitivity for the currency and bond markets, though it is notable that NAB continues to field external client enquiries regarding the sanctity of the sovereign’s AAA credit rating."
NAB expands: "Treasurer Swan is expected to announce that he now expects a cash budget deficit of $16.5bn for 2012-13 according to the market median estimate (NAB is $15bn), and $10bn for 2013-14 (NAB $5bn). We doubt that there will be anything of particular sensitivity for the currency and bond markets, though it is notable that NAB continues to field external client enquiries regarding the sanctity of the sovereign’s AAA credit rating."