AUD/USD Eyes February High After Australian Q4 GDP Beat

The Australian Dollar climbed after Australian Q4 GDP came in at -1.1% year-over-year (YoY), against an expected reading of -1.8%. The strong beat, coupled with a 3.1% (QoQ) growth rate, compounded recent Aussie strength as the outperformance of the economy attracted more AUD/USD bulls. Source: RBA Australia remains on a steady path in terms of economic recovery, as forecasts continue to improve due to faster vaccine rollouts. A strong labor market, rising wages, and rising private capital expenditure (Capex) data painted a rosy picture for the economy moving forward this year. The bounce in private capital … (full story)

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