Aussie shrugs-off upbeat Q3 GDP, EU CPI, UK PMI – In focus

By FXStreet FXStreet (Mumbai) – The US dollar staged a comeback from the recent corrective slide in Asia, weighing on most G10 currencies. While the calendar remained light this session, upbeat Australian growth numbers and RBA Steven’s comments failed to offer support to the AUD
bulls. The Kiwi retreated from multi-week lows, although held onto 0.6650 support.

Key headlines in Asia

Swings in AUD helped combat inflation – RBA’s Stevens

Australia’s GDP expands 0.9% in Q3, beats estimates

Increase in capex to have positive impact on prices – BOJ’s Iwata

Lael Brainard: concerned on dollar strength

Dominating themes in Asia – centered on JPY, AUD, NZD

A relatively quiet Asian session, with only Australia’s GDP reported amid no relevant economic news. Australia’s GDP expanded 0.9% in the September quarter, against 0.5% growth seen previously. Markets had predicted the economy to grow 0.8% in Q3. However, the decent Australian data and RBA’s Steven talking up on the AUD, didn’t incentivise the bulls, keeping AUD/USD in the red ahead of 0.73 barrier. The OZ counterpart, the New Zealand dollar also lost ground against the greenback, as markets resorted to profit-taking after the Kiwi flew to four-week highs on Tuesday, following pick-up in dairy prices as showed …read more

Source:: FX Street