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Economic growth data from Australia for the January – March quarter of 2025.
+0.2% q/q for a bad miss, although as noted some estimates were revised much lower ahead of the data release
+1.3% y/y, also a miss but the same rate as Q4 2024
GDP Chain Price Index, an indicator to inflation: +0.5%
Final Consumption +0.2%
Per capita GDP growth -0.2%, from +0.1% prior.
Household saving rate 5.2%, quite the jump.
Government spending made the largest drag on growth since 2017
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Yields dribbling lower on the data. Nothing here to prevent another Reserve Bank of Australia rate cut of they are leaning that way.
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AUD not doing a real lot: …. it looks wild but check the y-axis scal, small move only:
This article was written by Eamonn Sheridan at www.forexlive.com.
The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.
Previous close was 7.1878
PBOC injected 214.9bn yuan via 7-day reverse repos at 1.40%
This article was written by Eamonn Sheridan at www.forexlive.com.
Asian Session Market Wrap Markets failed to hold onto late US session gains as markets were hoping for positive news regarding a potential Trump-Xi meeting. US Equity Futures are down in the Asian session with the S&P 500 down around approximately 0.6%. In Asia, a key measure of regional stocks went up by 0.1%, breaking […]
The post Markets Today: Euro Area Inflation Drops, OECD Downgrades Growth and Trump-Xi Meeting appeared first on Action Forex.
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