AUD Gains Momentum on GDP Report: Overview for December 06, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSD_9-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="AUD/USD analysis today" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>The decline of the <a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD/USD</a> pair has decelerated.</p>

<p>On Wednesday, the Australian dollar experienced a modest upswing against the US dollar. The current exchange rate for AUD/USD stands at 0.6589.</p>

<p>Today, the market scrutinized the Australian <a href="https://blog.roboforex.com/blog/2019/10/29/trading-news-how-to-make-money-on-gdp/" data-internallinksmanager029f6b8e52c="93" title="GDP">GDP</a> statistics for Q3 2023. The economic expansion fell short of expectations, registering the slowest growth rate of the year.</p>

<p>Quarterly calculations showed a GDP increase of 0.2%, compared to the anticipated 0.4%. On an annual basis, it rose by 2.1%, surpassing the expected 1.8%.</p>

<p>Despite this, the Reserve Bank of Australia (RBA) continues to exert pressure on the AUD exchange rate. In its recent meeting earlier this week, the RBA opted to maintain the <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> at 4.35% per annum. According to the central bank's assessments, a pause in monetary policy allows for a comprehensive evaluation of inflationary impacts, the labor market situation, and previous adjustments in credit costs.</p>

<p>Inflationary pressures within the Australian economy are gradually diminishing, as confirmed by the statistics. For the AUD, this presents a reason to ease back.</p>

<p>
<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a href="https://blog.roboforex.com/blog/2023/12/06/aud-gains-momentum-on-gdp-report-overview-for-december-06-2023/">AUD Gains Momentum on GDP Report: Overview for December 06, 2023</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>