The Australian Dollar slipped a little Wednesday in the immediate aftermath of official growth data which came in broadly as expected.
Gross Domestic Product rose by 0.8% on the quarter, and 1.8% on the year. This matched market forecasts but, in the wake of some strong construction and export data for the same period, investors may have dared to hope for more. If so, they were out of luck. Still, the outcome is better than the first quarter’s respective gains of 0.3% and 1.7% andis arguably not too bad given Hurricane Debbie’s baleful impact on economic activity.
Still, the Australian Dollar slipped back under US$0.80 on the news ... (full story)