Glenn Stevens Glad On Australia GDP Result

Stevens is speaking in Perth today saying that the swings in the Aussie have helped avoid damaging cycle of inflation and bust while remaining bullish for a continued moderate economic growth in the economy.

All in all, the air remains an air of optimism and although the reaction was limited in the Aussie, with it having been already well bid up to the trend line and the anticipated bullish result mostly priced in, the price will likely target a strong resistance level at 0.7370 and October highs while awaiting the Nonfarm Payrolls showdown at the end of the week from the US.

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