In my post yesterday, it was stated in the Reserve Bank of Australia (RBA) rate statement that growth will be below trend for the next few quarters. As a country that is quite dependent on commodities, the decline in commodity prices has taken a toll on the Australian economy.
For the quarter ending September this year, the GDP recorded a growth of only 0.3%, missing estimates of 0.7%.
Check out the full report here.
I missed an entry to short the AUD/USD pair based on fundamentals as the signs of an uninspiring figure were present.
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