{"id":90557,"date":"2016-05-31T07:30:00","date_gmt":"2016-05-31T11:30:00","guid":{"rendered":"http:\/\/countingpips.com\/?p=90557"},"modified":"2016-05-31T07:30:00","modified_gmt":"2016-05-31T11:30:00","slug":"aussie-jumps-after-solid-data-may-lift-q1-gdp","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/05\/aussie-jumps-after-solid-data-may-lift-q1-gdp\/","title":{"rendered":"Aussie jumps after solid data may lift Q1 GDP"},"content":{"rendered":"<div id=\"inves-430320275\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 31, 2016<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>The Australian dollar was one of the best performing major currencies early on Tuesday after being boosted by some upbeat domestic data that could lead to better Q1 GDP data due out on Wednesday.<\/p>\n<p>Solid export data have prompted economists to revise their expectations for economic growth. Australia\u2019s current account deficit narrowed 8 per cent to A$20.8bn in the first quarter, down from a revised A$22.6bn in the previous quarter (previously A$21.1bn). Economists expected the deficit to have shrunk more, to A$19.5bn.<\/p>\n<p>The better-than-expected result is likely to have pushed up the rate of quarterly growth beyond the 0.6 per cent average estimate by several economists. This would leave year-on-year growth at or above 2.7 per cent.<\/p>\n<p>Other data out today included building approvals and private sector credit, which were both solid. Building approvals for April rose 3 per cent, confounding forecasts for a 3 per cent fall.<\/p>\n<p>The Australian dollar reacted positively to today\u2019s data and jumped 0.9 per cent at $0.7244 and close to its highs of the day.<\/p><div id=\"inves-956972711\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>That has trimmed its monthly decline to 4.7 per cent, making this the currency\u2019s worst month since July last year.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime The Australian dollar was one of the best performing major currencies early on Tuesday after being boosted by some upbeat domestic data that could lead to better Q1 GDP data due out on Wednesday. Solid export data have prompted economists to revise their expectations for economic growth. Australia\u2019s current account deficit narrowed [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-90557","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/90557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=90557"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/90557\/revisions"}],"predecessor-version":[{"id":90574,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/90557\/revisions\/90574"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=90557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=90557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=90557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}