China HSBC China Services PMI increase to 52.8 in August from 51.3

Sep 4, 2013

AUD/USD soars to 2-week highs at 0.9085 on Australian GDP data

AUD/USD broke through immediate resistance to spike at 0.9085 2-week highs on the release of Australian GDP data. Despite stronger greenback prior to the bullish upswing, the Aussie managed to outweigh the dollar.

Aus GDP reinforces on-hold RBA, paves way for higher AUD

The latest Australian GDP number, which has come at 0.6% as expected, and slightly above expectation YoY, 2.6% vs 2.5%, combined with the removal of some easing narrative on the RBA statement yesterday, is a reinforcement for calls of RBA on hold for the next few months.