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Mar 2, 2021 22:02 GMTFXStreet News
AUD/USD has broken back above 0.7300 ahead of the release of the crucial Q4 Australia 2020 GDP update.
AUD has outperformed most of its G10 rivals on Tuesday in wake of a more optimistic RBA.
AUD/USD has broken back to the north of resistance in the form of the early January highs at 0.7820 and currently trades around the 0.7830 mark ahead of the release of the crucial Q4 2020 GDP update. The pair, which has benefitted from a combination of US dollar weakness and post-RBA tailwinds, looks set to end Tuesday FX trade with gains of about 0.8% or 60 pips on the day and is the best performer in the G10.
Job advertisements have now hit their highest level since October 2018, while the latest corporate profit figures indicate the December quarter GDP will be stronger than previously expected.