-
Aussie Edges Higher After Robust GDP Report
The Australian dollar moved higher on Wednesday poised to test trend line resistance after the government reported stronger than expected growth. Robust household spending and solid exports pushed the GDP report above forecasts. China confirmed its GDP for the quarter which also gave a boost to the currency down under. The Australian GDP grew 0.8% quarter over quarter in Q4 of 2014 after expanding 0.6% in Q3 and topped consensus of +0.7%, lifted by increased household spending. Net exports added 0.6 percentage points to growth, while investment cut 0.5 percentage points. China’s Service PMI reported by HSBC ... (full story)