Australian Import Price Index Falls More than Expected in Q1.

1st quarter Australian Import Prices have come in worse than expected at -2.8% vs a forecast -0.4% and a previous result for Q4 08 of +10.8%. Exports were reported to have fallen by 4.6% q/q Vs a previous result for Q4 08 of +15.8%.

If anything the AUD/USD is a couple of pips higher at 0.7201 after the release compared with 0.7195 prior to the release.