• Australia Q2 GDP: +0.6% q/q (vs. expected +0.5%, prior was +0.5%, revised down from +0.6%)
  • Australia Q2 GDP: +2.6% y/y (vs. expected +2.4%, prior was +2.5%)
  • Household consumption stronger than expected a big contributor
  • Also inventory build a big contributor
  • government spending a big contributor (likely to not continue)

Preview here. I mentioned in the preview that I assumed the RBA had seen these figures already when they further pared back their easing bias to a more neutral bias yesterday.

AUD/USD has jumped through 65/70 resistance overnight to quote above 0.9080 now.

Orderboard here shows sellers up ahead