The Australian economy grew by 0.3% in Q1 2017. This is slightly better than 0.2% expected.Year over year, the growth rate was 1.7%, better than 1.6% expected. More importantly, real forecasts were probably lower. The Reserve Bank of Australia hinted about a weak GDP growth number and said it is just temporary and that growth would pick up. In addition, Australia’s current account came out worse than predicted, also pushing expectations for the GDP number a bit lower. The Australian dollar was recently hit by Chinese data while ignoring positive Australian figures. While the GDP growth number is weaker than in previous quarters and not a great number on its own, the reaction shows that Australian figures return to having a positive influence on the pair. AUD/USD extends gains The Australian dollar advanced for the fourth consecutive day, reaching a new high of 0.7543. Resistance awaits at 0.7560, followed by the super strong number of 0.7610. Support awaits at 0.7520, followed by 0.7490, 0.7440 and 0.7375. Will we see a correction before the next move to the upside? Here is the AUD/USD daily chart. Note the higher low that the pair posted. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next ECB Preview: balanced risks could provide a buying opportunity Yohay Elam 6 years The Australian economy grew by 0.3% in Q1 2017. This is slightly better than 0.2% expected.Year over year, the growth rate was 1.7%, better than 1.6% expected. More importantly, real forecasts were probably lower. The Reserve Bank of Australia hinted about a weak GDP growth number and said it is just temporary and that growth would pick up. In addition, Australia's current account came out worse than predicted, also pushing expectations for the GDP number a bit lower. The Australian dollar was recently hit by Chinese data while ignoring positive Australian figures. While the GDP growth number is weaker than… 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.
