30 Jan 2015
AUD/USD edges lower after US data
FXStreet (Córdoba) - AUD/USD inched slightly lower and retested daily lows following the release of the US Q4 GDP.
US dollar reaction to data was mixed and modest. While the greenback weakened versus the yen and the euro, it rose versus commodity currencies, dragging AUD/USD to a session low of 0.7730. At time of writing, the pair is trading at the 0.7745 area, recording a 0.19% loss on the day.
US growth moderates
Data showed, US gross domestic product grew by 2.6% in the fourth quarter 2014, slowing from a strong 5% rise in Q3 and missing expectations of a 3.3% annualized increase. Meanwhile, consumer spending rose 4.3% following a 3.2% rise the previous quarter and PCE prices fell by 0.5%, missing by far consensus of an 0.8% increase.
US dollar reaction to data was mixed and modest. While the greenback weakened versus the yen and the euro, it rose versus commodity currencies, dragging AUD/USD to a session low of 0.7730. At time of writing, the pair is trading at the 0.7745 area, recording a 0.19% loss on the day.
US growth moderates
Data showed, US gross domestic product grew by 2.6% in the fourth quarter 2014, slowing from a strong 5% rise in Q3 and missing expectations of a 3.3% annualized increase. Meanwhile, consumer spending rose 4.3% following a 3.2% rise the previous quarter and PCE prices fell by 0.5%, missing by far consensus of an 0.8% increase.