Thursday, 21 November 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Australian GDP falls in line with expectations, AUD slightly higher
Wednesday, 4 September 2019 08:55 WIB | ECONOMY |Ekonomi Australia

AUD/USD has rallied around 10 pips on the inline data in Gross Domestic Produce data, (GDP), which dominates the calendar for Asia today.

Of late, we have seen a mixed series of partial indicators such as the soft construction & inventories data wile, despite the trade wars, exports had surprised to the upside. The updated Bloomberg consensus was for 0.5% quarter (QoQ), 1.4% year (YoY) as displayed on the FXStreet calendar.

The data arrived as follows:

QoQ Q2 arrived at 0.5% vs 0.5% and 0.4% prior, revised to 0.5%

YoY Q2 arrived at 1.4% vs 1.4% and 1.8%.

As analysts at Westpac noted, in yesterday™s statement, "the RBA conceded H1 2019 growth œhas been lower than earlier expected but insisted that growth œis expected to strengthen gradually to be around trend over the next couple of years.

About GDP

The Gross Domestic Product released by the Australian Bureau of Statistics is a measure of the total value of all goods and services produced by Australia. The GDP is considered as a broad measure of the economic activity and health. A rising trend has a positive effect on the AUD, while a falling trend is seen as negative (or bearish) for the AUD.

Source: FXstreet

RELATED NEWS
U.S. Retail Sales Rebound in October, But a Small Group of Stores Reap Most of the Gains...
Friday, 15 November 2019 21:05 WIB

Sales at gas stations, car dealers and internet stores such as Amazon rose in October, but most other retailers posted weak results just before the start of the critical holiday shopping season. Reta...

U.S. Wholesale Prices Get Gasoline Bump in October, PPI Shows...
Thursday, 14 November 2019 20:52 WIB

The wholesale cost of U.S. goods and services posted the sharpest increase in October in six months, but aside from higher gas prices, there was little inflation to be found. The producer price index...

UK Retail Sales Drop 0.1% MoM in October vs. +0.2% Expected...
Thursday, 14 November 2019 16:49 WIB

The headline UK retail sales came in to show an unexpected fall of 0.1% in October as compared to 0.2% growth expected and a flat reading recorded in the previous month. Meanwhile, the core retail sal...

German economy dodges recession with 0.1% expansion in Q3...
Thursday, 14 November 2019 14:35 WIB

The German economy escaped a recession in the third quarter as strong consumer spending helped output grow 0.1% quarter-on-quarter, defying expectations of a contraction, preliminary data showed on Th...

Australia Employment Unexpectedly Drops in October; Dollar Falls...
Thursday, 14 November 2019 08:33 WIB

Australian employment unexpectedly declined in October, rekindling the prospect for additional interest-rate reductions and sending the local currency lower. Jobs fell 19,000 from September, compared...

LATEST NEWS
U.S. stock futures pare losses after report China's Liu 'cautiously optimistic' over trade deal

Stock futures slipped Thursday, but pared larger losses after China's vice premier, Liu He, reportedly said he™s œcautiously optimistic about getting to a preliminary phase 1 trade pact with the U.S. Dow Jones Industrial Average futures...

Japan's yen gains, yuan down on trade woes, Hong Kong strife

The Japanese yen firmed against the dollar on Thursday after sources close to the White House told Reuters that a U.S.-China trade deal is unlikely this year, shattering investor hopes of a partial agreement soon and boosting safe-haven...

Gold Steadies as China 'Cautiously Optimistic' on Deal

Gold erased gains to trade little changed after China™s chief negotiator Liu He said he was œcautiously optimistic about reaching a phase one trade deal with the U.S. Spot gold little changed at $1,471.02/oz at 7:33am in...

POPULAR NEWS
Gold Edges Up On Chinese Worry Over Trump Impeachment
Tuesday, 19 November 2019 03:44 WIB

Gold was back on track to being a hedge to the trade war on Monday after talk of Beijing™s anxiety over President Donald Trump™s impeachment...

Gold Holds Steady As Trump Warns China on Trade Deal
Wednesday, 20 November 2019 03:42 WIB

President Donald Trump is warning China to sign on the dotted line by Dec. 15 and the gold market is listening more than ever. As hedge to the...

Gold Prices Settle Slightly Lower, Then Extend Losses After Fed Meeting Minutes
Thursday, 21 November 2019 02:24 WIB

Gold prices gave up the bulk of their losses on Wednesday to finish just a dime lower, finding support after Reuters reported that phase one of a...

Gold Holds Gain on Trade Doubts, Powell-Trump Meeting
Tuesday, 19 November 2019 09:27 WIB

Gold held an advance as investors continued to await signs of progress in U.S.-China trade negotiations amid lingering doubts that a...