Forex News – Australian GDP tops expectations but aussie meets with resistance at 93 cents
Posted on June 4, 2014 at 12:19 pm GMTThe news that Australian GDP grew by a strong 1.1% during the first quarter (quarter-on-quarter) was an affirmation that the economy was doing very well. The performance represented an acceleration from the previous quarter’s growth rate of 0.8% and was also higher than the consensus expectation of 1.0% growth by economists. It was the fastest quarterly growth rate since the fourth quarter of 2011. A major reason behind the faster growth experienced in Australia is the boom in the export [..]