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Australian GDP beats expectations, Aussie jumps

AUDUSD News by Newsroom on 22:21 May 31, 2016 EST
Australia's Gross Domestic Product for Q1 came at 1.1% versus expectations for 0.8% and the previous reading 0.6%. On the year a healthy 3.1% increase versus 2.8% expected and 3% last.

The data was expected to come strong after recent figures showed a revamp on exports.


AUDUSD rallied to test 0.7300 as Australian 1Q GDP beat expectations on the whole.

GDP (QoQ) (Q1): +1.10% (est 0.80%, prev rev to +0.70% from 0.60%)
GDP (YoY) (Q1): +3.10% (est 2.80%, prev rev to +2.90% from 3.00%)

Final Consumption (Q1): +0.7% (prev 0.7%)
Capex -1.70% (prev rev to -0.2% from -0.6%)
Chain Price Index -0.4% (prev -0.7%)




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