AUD Closes the Gap on Poor GDP -AUD is........>

FOREX: AUD Closes the Gap on Poor GDP

-AUD is comfortably the poorest performing currency in G10 FX so far today, with

Q3 GDP growth falling well below expectations. GDP grew at half the rate

expected, 0.3% vs. Exp 0.6% Q/Q and 2.8% Y/Y vs. Exp. 3.3%. AUD/USD was quick

the close the technical gap higher seen Monday, with bears now setting their

sights for the 100-dma at $0.7240 to trigger the next leg lower.

-To the upside, SEK is performing well on better than expected data: services

PMI was particularly strong at 62.2 and private sector production numbers also

beat forecast. EUR/SEK fell through 10.21 to touch the lowest levels since June,

extending the now four-day slide in EUR/SEK.

-Elsewhere, currency markets are more sanguine, with the USD gaining modestly

alongside the GBP which bounces off the YTD lows printed yesterday. Recoveries

remain shallow, however, with US markets closed for a day of mourning for

President George HW Bush.

-Bank of Canada rate decision takes focus from here, with markets expecting no

change at 1.75%. The Fed also release Beige Book data.