Australian data Q1 Business Inventories +1.3% q/q (expected 0.7%) ...Middle East

Business Inventories Q1 +1.3%, a solid beat expected 0.7% q/q, prior -1.7%Gross Company Profits Q1 -2.5%expected -0.6%, prior +7.4%Current Account Balance SA Q1 -4.9% ... shockingly bad compared to the surplus expected expected AUD5.1bn, prior AUD11.8bnNet Exports Contribution Q1 -0.9%expected -0.6%, prior +0.6%more to come ***For Wednesday, preview Australia Q1 GDP report due Wednesday, expected to remain very weak This article was written by Eamonn Sheridan at www.forexlive.com.

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