03.06.2015 - Australia's GDP grew by 0.9%

The price of the Australian dollar showed strong growth, against the background of strong statistics on GDP growth in Q1 by 0.9%, which is 0.2% better than the forecast of analysts and growth of 0.5% in the 4th quarter of last year. The reason for the strong growth was the acceleration of growth in consumer spending and an increase in exports. It is worth recalling that the major risks of the economy are falling prices for commodities, a slowdown in China’s growth and an overvalued national currency exchange rate. Reduced investment in the mining sector will continue to have a negative impact on the quotes of the Australian currency. We maintain a negative outlook and medium-term forecast the fall to 0.70 during the year.

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