Australia - Q1 GDP: +0.9% q/q (vs. +0.7% expected)

Australia - Q1 GDP

0.9 % q/q

• expected +0.7% q/q
• prior was +0.5%

2.3 % y/y

• expected +2.1% y/y
• prior was +2.5%

AUD jumping to new session high - popped above 0.7800

• Q1 final consumption expenditure +0.5 pct, s/adj
• Gross fixed capital expenditure -1.2 pct, s/adj
• Chain price index 0.0 pct

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Added - AUD/USD

AUD started a grind higher yesterday as GDP forecasts were revised higher, then surged after the RBA, again overnight with a weak USD, and now again today after the GDP exceeded even the revisions upward.