# AU GDP beat fails to boost AUDUSD | FOREX.com Europe

> 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.

- Date: 2021-08-31 · published 2021-08-31T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/45798-au-gdp-beat-fails-to-boost-audusd-forex-com-europe
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

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.

## Read by commodity

- AUDUSD: neutral

## Sources

- forex.com: https://www.forex.com/ie/news-and-analysis/au-gdp-beat-fails-to-boost-audusd/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.