Key Market Update: Australia's Q2 GDP Beats Forecasts, Fuels AUD Optimism

Australia’s economy surprised to the upside in Q2, expanding at its fastest pace since September 2023. The upbeat data adds fuel to bullish AUD sentiment and may recalibrate expectations around the Reserve Bank of Australia’s next move.

📊 Key Data Points
YoY Growth: +1.8% (vs. 1.6% expected)
QoQ Growth: +0.6% (vs. 0.5% forecast)
Previous Quarter: +1.3% YoY

🧠 Market Implications
The stronger-than-expected print follows the RBA’s recent 25bps rate cut to 3.6%, suggesting resilience despite easing.
Traders may now reassess the likelihood of further cuts, especially if inflation remains sticky.
AUD/USD saw a modest uptick post-release, with bulls eyeing a potential breakout above 0.6850