AUD/USD recovers further from YTD low, steadily climbs to 0.6775-80 zone amid weaker USD – by hareshmenghani AUDUSD China Fed Recession Currencies
t half of the European session. The momentum lifts spot prices to a fresh weekly high, around the 0.6775-0.6780 region in the last hour, with bulls now eyeing to test the 200-day Simple Moving Average support breakpoint.
The Australian Bureau of Statistics reported that the economy expanded by 0.5% in the three months to December, lower than the 0.8% expected and 0.6% in the previous quarter. On an annualized basis, fourth quarter GDP rose 2.7%, as expected, though marked a significant slowdown from the 5.9% growth recorded in the previous quarter. Another report showed that Consumer Price Index missed market estimates and decelerated from 8.4% to 7.4% in January.
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