AUD/USD is holding lower post the weaker than expected Q3 GDP print. The currency was last near 0.6465/70, off around 0.30% for the session and the weakest performer within the G10 space so far today. Nov 26 lows at 0.6434 could be a downside target. 

  • The Q3 GDP data showed very little positive economic momentum outside of government spending. RBA-dated OIS pricing is slightly softer after the data. Still, with signs of life in consumer spending, today's data is unlikely to shift RBA thinking at next week's policy meeting.
  • Elsewhere the USD is firmer, with focus on spot USD/KRW moves following onshore political turmoil. Spot USD/KRW gaped lower at the open, but is higher now (1415/16).
  • The BBDXY index is a touch higher, last near 1282, with all the majors weaker against the USD at this stage. 

AUD: AUD Holding Lower Post Weaker GDP, But Late No Lows Still Intact

Last updated at:Dec-04 01:05By: Jonathan Cavenagh
Foreign Exchange+ 1

AUD/USD is holding lower post the weaker than expected Q3 GDP print. The currency was last near 0.6465/70, off around 0.30% for the session and the weakest performer within the G10 space so far today. Nov 26 lows at 0.6434 could be a downside target. 

  • The Q3 GDP data showed very little positive economic momentum outside of government spending. RBA-dated OIS pricing is slightly softer after the data. Still, with signs of life in consumer spending, today's data is unlikely to shift RBA thinking at next week's policy meeting.
  • Elsewhere the USD is firmer, with focus on spot USD/KRW moves following onshore political turmoil. Spot USD/KRW gaped lower at the open, but is higher now (1415/16).
  • The BBDXY index is a touch higher, last near 1282, with all the majors weaker against the USD at this stage.