The AUD/USD pair is growing significantly after the GDP statistics was published.
The Australian Dollar is being bought for the third consecutive trading session. The current quote for the AUD/USD pair is 0.7550. The Aussie moved to the high of May 2nd 2017 and doesn’t seem to stop.
This morning, the country reported on the GDP in the first quarter 2017. The indicator expanded by 0.3% q/q (+1.7% y/y), which is better than expected, but worse that the reading in the last quarter of 2016.
In the comments, the Statistical Office of Australia emphasized that the country’s economy continued improving and that was a positive moment for the Aussie. The GDP would improve faster, if salaries grew faster that the inflation. This, in its turn, depends on the balance in the employment market, which focuses on the economy stability and external political and economic background along with interest rates for businesses and facilities.
Overall, the GDP report was received positively. Investors’ antipathy to the USD is still in favor of the Aussie.
RoboForex Analytical Department