Australian Q3 GDP is due at 11.30am local time (0030GMT)

  • Median expectation is at +0.7% q/q (mean average is +0.8%)
  • Prior (for Q2) was +0.6%
  • For the y/y, expected is +2.6%, prior was +2.6%
Preview - Australian Q3 GDP 04 December 2013
Source is Bloomberg

The risk for the GDP is probably to the upside, given the boost the economy received after the election (which does appear, though, to be wearing off) … but maybe the economists factored this in already?

With the market wary of a topside surprise, if we get it, expect the AUD to test sellers around 0.9200. If the GDP comes in worse than expected, though, I expect a sharper reaction, and lets see if 0.9050/60 holds again (it has bounced from 0.9050/60 (or just above) three times now).