Australia GDP Q3 Data Weighs on AUDUSD ( +video)


Australia’s economy grew at a slower pace than forecast in the three months to the end of September.  Let’s now discuss the Australia GDP Q3 Data Weighs on AUDUSD.

6 December, HotForex – Australia’s  gross domestic product grew 0.6 per cent quarter on quarter in the third quarter, according to the Australian Bureau of Statistics. That was imperceptibly below economists’ assessments compiled by Reuters forecasting 0.7 per cent growth and lower than the 0.9 per cent growth (previously 0.8 per cent growth) seen in the previous quarter.

Australia GDP Q3 Data Weighs on AUDUSD

AUD slips on weak GDP & Commodities –  The weakness in AUD on disappointing  Australian Q3 GDP, soft oil prices, tech sector woes, Brexit-related anxieties, and concerns about the lofty valuations of stock markets, have collectively been weighing on global equity markets, in turn pushing up safe havens, such as the Japanese currency and gold.

Meanwhile, Sterling is among the biggest losers as markets lose some of their recent faith that the UK and EU are near to finding an accord on divorce terms, with the Irish border remaining a key sticking point.

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This article about Australia GDP Q3 Data Weighs on AUDUSD was written by Stuart Cowell, Market Analyst at HotForex. The provided article is a general marketing communication for information purposes only. It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.

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