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Australian GDP disappoints

Written by Sam Coxhead on December 1st, 2010.      0 comments

11.45 AM (AEST) Australian GDP figures just released saw just a .2% rise for the third quarter against an expectation of a +.5% rise.  As one would expect this saw a drop in the AUD, by about 50pts initially. This will certainly add to calls that the RBA will keep interest rates on hold for some time. This slow down in the economy would have been  driven by higher interest costs, a reduction in Govt stimulus and reduced exports due to the stronger currency.
 
          Last 24 hours trade
  Current level Pre-Aust GDP chge since Aust GDP   Low High
NZD/USD 0.7415 0.7428 -0.2%   0.7394 0.7536
AUD/USD 0.9554 0.9606 -0.5%   0.9539 0.9660
NZD/AUD 0.7762 0.7732 0.4%   0.7717 0.7760
AUD/NZD 1.2883 1.2933 -0.4%   1.2886 1.2958
NZD/GBP 0.4766 0.4771 -0.1%   0.4760 0.4803
NZD/EUR 0.5714 0.5716 0.0%   0.5664 0.5734
NZD/JPY 61.96 62.10 -0.2%   61.86 62.9
NZD/CAD 0.7613 0.7614 0.0%   0.7568 0.7655
 

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