The Australian dollar rose on Wednesday after data showed growth in the Australian economy accelerated in the second quarter of 2018.<\/p>\n
The\u00a0<\/span>AUD\/USD<\/a><\/span>\u00a0<\/span>pair rose 0.2% to 0.7191 by 12:30AM ET (04:30 GMT). The\u00a0<\/span>Australian economy<\/a><\/span>\u00a0<\/span>grew by 0.9% quarter-on-quarter, compared with the estimated growth rate of 0.7%, the Australian Bureau of Statistics reported on Wednesday.<\/p>\n Net exports contributed 0.1% points during the quarter to the GDP growth and the household final consumption expenditure increased 0.7%, contributing 0.4% points to GDP growth.<\/p>\n On a year-on-year basis, growth in the Australian economy accelerated to 3.4%, again beating forecasts of a slowdown to 2.8%.<\/p>\n The\u00a0<\/span>USD\/CNY<\/a><\/span>\u00a0<\/span>pair slipped 0.1% to 6.8385 as the People’s Bank of China (PBOC) set the yuan reference rate at 6.8266 vs Tuesday’s fix of 6.8183.<\/p>\n","protected":false},"excerpt":{"rendered":" The Australian dollar rose on Wednesday after data showed growth in the Australian economy accelerated in the second quarter of 2018. The\u00a0AUD\/USD\u00a0pair rose 0.2% to 0.7191 by 12:30AM ET (04:30 GMT). The\u00a0Australian economy\u00a0grew by 0.9% quarter-on-quarter, compared with the estimated growth rate of 0.7%, the Australian Bureau of Statistics reported Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-947","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=947"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/947\/revisions"}],"predecessor-version":[{"id":948,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/947\/revisions\/948"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}