The Australian dollar against the US dollar has put its decline on a pause. The current quote is 0.6753.
The report from today demonstrated growth of the Australian GDP in Q4, 2022 by 2.7% y/y just as expected, or by 0.5% y/y instead of the expected 0.8%.
Among other components of the report, the personal expenses part was quite noticeable. This index grew by just 0.4% upon growing by 0.8% previously. Capital expenses in Q4 dropped by 1.4% upon declining by 0.2% in Q3.
There is evidence that the Australian economy is landing smoothly after the increase in the interest rate and issues with trade and economic links that call for adaptation.
Meanwhile, the Aussie fans took the report positively. And now the AUD is additionally supported by the correction in the USD.