RBA’s Debelle says they have capacity for one more rate cut. Australian economy expanded by 2.2% annually in fourth quarter. ADP Employment Change in US is expected to fall to 170K in February. The AUD/USD pair gained traction during the Asian trading hours on the back of upbeat GDP data from Australia and the improving market sentiment. Although the pair staged a technical correction and dropped below the 0.66 handle in the European morning, it has started to edge higher in the last hour. As of writing, the pair was trading at a fresh daily high of 0.6627, adding 0.66% on a daily basis. Australian Q4 GDP figures boost AUD The data published by the Australian Bureau of Statistics on Wednesday showed that the economy grew by 2.2% on a yearly basis in the fourth quarter following the 1.7% expansion recorded in the previous quarter and beat the market expectation of 1.9%. Commenting on this data, Reserve Bank of Australia (RBA) Deputy Governor Debelle said the reading was in line with their view of a “gentle turning point” in the economy. Regarding the policy outlook, Debelle noted that the RBA has the capacity to reduce its policy rate one more time but the negative impact of this remark on the AUD was short-lived. On the other hand, after falling sharply amid the Federal Reserve’s 50 basis points rate cut on Tuesday, the US Dollar Index (DXY) is registering recovery gains ahead of key macroeconomic data releases. At the moment, the DXY is up 0.22% on the day at 97.36. The US economic docket will feature ADP Employment Change, Markit Services PMI and ISM Non-Manufacturing PMI data. Technical levels to watch for FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD: Recovery could reach the 0.6700 area – UOB FX Street 3 years RBA's Debelle says they have capacity for one more rate cut. Australian economy expanded by 2.2% annually in fourth quarter. ADP Employment Change in US is expected to fall to 170K in February. The AUD/USD pair gained traction during the Asian trading hours on the back of upbeat GDP data from Australia and the improving market sentiment. Although the pair staged a technical correction and dropped below the 0.66 handle in the European morning, it has started to edge higher in the last hour. As of writing, the pair was trading at a fresh daily high of 0.6627, adding 0.66%… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.