Australian GDP Misses Expectations, Aussie Moves Lower

The Australian dropped during the current trading session as Australia’s economic growth missed expectations.

Gross domestic product rose 0.6% in the September quarter of 2017 from the previous three months on a seasonally adjusted basis. The increase was a bit below the median forecast of 0.7% and the previous quarter’s revised growth of 0.9%. With that said, the reading was still rather solid, making losses of the Australian dollar limited against most currencies.

AUD/USD dipped from 0.7606 to 0.7588 as of 10:53 GMT today. EUR/AUD edged up from 1.5542 to 1.5579.

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