The Australia dollar gained today after Australia’s economic growth matched expectations and the services sector returned to expansion.
The Australian Bureau of Statistics reported that gross domestic product rose 0.5% in the June quarter from the previous three months. That was the same rate of growth as in the previous quarter. It matched expectations.
The Australian Industry Group Australian Performance of Services Index climbed from 43.9 in July to 51.4 in August. The index rose above the neutral 50.0 level, meaning that the sector returned to mild growth after a rather sharp contraction.
AUD/USD climbed from 0.6757 to 0.6785 as of 13:27 GMT today. AUD/JPY jumped from 71.59 to 72.12. AUD/CHF edged up from 0.6668 to 0.6681 but backed off from the daily high of 0.6704.
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