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%
- 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).
