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Australia's Q2 GDP rose 0.7% against expectations of 0.4%, but the economy faces a significant Q3 contraction due to lockdowns. Terms of trade rose 7% to a record high.
The AUD/USD failed to break resistance near 0.7320-0.7340 despite the data.
Record terms of trade support the AUD, but lockdown-driven weakness and failed breakouts keep currency direction mixed. For feed buyers the effect is limited to currency-linked export pricing.
forex.comGlobal AuthorAug 31, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
