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Aussie and kiwi head north

On Wednesday, the New Zealand and Australian dollars managed to gain ground against their American rival right after the issue of positive Australian economic data as well as mixed manufacturing activity posts from China.     

The currency pair AUD/USD acquired 0.54%, trading at 0.7273, the highest value since May 18.

On Wednesday, the Australian Bureau of Statistics announced that the county’s GDP went up by 1.1% during the first quarter, thus ruining hopes for a 0.8% revenue. 

The Australian economy soared by 0.7% for the last quarter of the previous year, whose figure got revised from a previously expected growth rate of about 0.6%.

In the first quarter, year-on-year GDP ascended by 3.1%, compared to expectations for a 2.8% surge.

The currency pair NZD/USD strengthened 0.31%, being worth 0.6786, the highest value since May 23.

Earlier on Wednesday, data revealed that in May, Chinese official manufacturing purchasing manager’s index was intact at 50.1, compared to hopes for a decrease to 50.0.

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