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FxWirePro- Australia GDP

Australia's GDP rose 0.20% in the second quarter, compared to a forecast of 0.30%. The annual Q1 GDP grew by 1% in line with the estimate. The decline was mainly led by Household spending fell by 0.20% detracting 0.1 per…

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FxWirePro- Australia GDP
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Australia's GDP rose 0.20% in the second quarter, compared to a forecast of 0.30%.  The annual Q1 GDP grew by 1% in line with the estimate.

 

 The decline was mainly led by Household spending fell by 0.20%  detracting 0.1 percentage points from GDP growth. Total Investment fell 0.10% in the June quarter.

 

Major resistance- 0.6875

 

Near-term resistance - 0.6750

 

Minor support-  0.6680,0.6620

Trend reversal level- 0.6350

 

 

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