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### GDP data beat expectations, with......>

AUSTRALIA
AUSTRALIA: ### GDP data beat expectations, with marginal positive revisions to
the prior Q/Q release. If you want to find a negative then household spending
was not as high as many had hoped for, but was still healthy enough.
- Y/Y growth above 3.0% will please the RBA.
- Aussie bonds are softer on the print, with the AU/US 10-Year spread coming in
to ~-18.0bp.
- The AUDUSD cross has added around 30 pips to trade at 0.7662 last, off of
highs of 0.7665. Resistance at the April 23 high (0.7682). AUDNZD at 1.0885, 35
pips or so higher than pre-release levels, highs of 1.0892, currently above the
200-DMA (1.0883), resistance at the May 25 low (1.0906). 
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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