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AUD/USD bounces sharply from post-data lows

FXStreet (Córdoba) - AUD/USD moved erratically in the minutes that followed the US GDP revision. USD strengthened as the knee-jerk reaction but quickly retreated to pre-data levels as details weren’t all that impressive.

US GDP rose at a seasonally adjusted annual rate of 3.5% in Q3 versus 3.0% expected and following a 4.6% increase in the previous quarter. Meanwhile, the PCE price index rose 1.2%, down from 2.3% in the previous quarter. Initial jobless claims came in slightly above expectations at 287K last week.

AUD/USD fell to a session low of 0.8758 but reversed then move soon after, overshooting pre-data levels to print a fresh daily high of 0.8810. At time of writing, the pair is trading at 0.8805, little changed on the day.

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