AUD under pressure from GDP data - BBH

Australia’s disappointing Q3 GDP (0.6% vs. expectations for 0.7% and weak consumption) saw the Australian dollar surrender the remainder of the retail sales inspired gains that were not unwound in North America yesterday, notes the research team at BBH.  

Key Quotes

“The Aussie had tested the $0.7655 resistance area we cited, but back to $0.7600 in the North American afternoon yesterday.  It sold off further, reaching almost $0.7570 before recovering in the European morning back toward $0.7600.   Australian bonds rallied strongly, with the 10-year yield dropping 9 bp to 2.50%, and the two-year yield is off six basis points to 1.77%, to once again slip below US yields.”  

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.