Aussie Recovers After Australia GDP Data
March 03 2015 - 9:54PM
RTTF2
The Australian dollar recovered from its early lows against the
other major currencies in the Asian session on Wednesday, following
the release of the nation's economic growth figures.
Data from the Australian Bureau of Statistics showed that
Australia's GDP grew at a faster rate in the fourth quarter, but
growth was slower than expected. The economy advanced 0.5 percent
quarter-over-quarter in the fourth quarter after the 0.4 percent
rise in the third quarter. Economists expected GDP to rise 0.6
percent.
On a yearly basis, GDP climbed 2.5 percent, in line with the
consensus estimate, after the 2.7 percent growth in the third
quarter.
The Australian dollar recovered to 93.69 against the yen and
1.4270 against the euro, from early lows of 93.28 and 1.4334,
respectively.
Against the U.S. and the Canadian dollars, the aussie rose to
0.7833 and 0.9780 from early lows of 0.7795 and 0.9732,
respectively.
If the aussie extends its uptrend, it is likely to find
resistance around 96.50 against the yen, 1.41 against the euro,
0.81 against the greenback and 1.01 against the loonie.
AUD vs US Dollar (FX:AUDUSD)
Forex Chart
From Aug 2024 to Sep 2024
AUD vs US Dollar (FX:AUDUSD)
Forex Chart
From Sep 2023 to Sep 2024