Aussie current account balance a plus for the Aussie - Nomura

Analysts at Nomura explained that Australia’s current account deficit narrowed sharply in Q4 2016. 

Key Quotes:

"Net portfolio inflows rebounded in Q4, while net foreign direct investment (FDI) inflows also continued. 

The further rise in commodity prices in early 2017 and robust volume growth in iron ore, coal and LNG suggests Australia could post a current account surplus in H1. 

This is rare, with the last quarterly current account surplus occurring in the mid-1970s.The relative improvement in Australia’s current account position is a positive for AUD from both flow and valuation perspectives."