04.03.2015 - Australia's GDP growth was less than expected
Statistics for GDP growth in Australia disappointed investors. Thus, analysts expect that in the 4th quarter of last year, growth will be 0.7%, but as a result, the economy increased by only 0.5%. Compared to the same period last year, GDP grew by 2.5%. Tomorrow in Australia will be published report on the trade balance of the country, which traditionally had a strong influence on the Australian currency. Given the weakness of the labor market, reducing investments in the mining sector and risks associated with the economic slowdown in China and the crisis in the Chinese construction sector, we recommend holding short positions on Australian currency and maintain the medium-term negative outlook, with the target level at 0.75.