Australia GDP q/q 1.3% Increase, Aussie Strengthens - 6.6.2012

The Australian economy expanded by 1.3 per cent, more than it was expected by economists, in the last quarter, as the Australian Bureau of Statistics reported earlier today. Moreover in annual figures the nation's GDP grew by 4.3 per cent, compared to the 2.5 per cent increase in 2011. The release of the GDP figures comes after the yesterday’s second cut in the interest rates by the Reserve Bank of Australia in 2012. The AUDUSD advanced after the release of the news by more than 1 per cent, to the 0.9859 resistance level from 0.9755, at the moment is trading at 0.9834.