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US: Expect GDP growth of 2.2% in 2016 - NAB

FXStreet (Delhi) – Tony Kelly, Research Analyst at NAB, notes that the U.S. GDP growth slowed in the December quarter to 0.2% qoq (0.7% annualised).

Key Quotes

“Most components slowed or stayed weak. The main detractors from growth were inventories and net exports. US dollar appreciation and falling energy prices are weighing heavily on some sectors.

Despite these headwinds, over the last year domestic final demand have held up, and the economy is expected to growth at a moderate pace. We expect GDP growth of 2.2% in 2016 (previously 2.3%) and 2.3% in 2017, although downside risks have increased.”

NZD/AUD: 0.9250 levels should cap the upside - Westpac

Imre Speizer, Senior Market Strategist at Westpac, suggests that the 0.9250 level should cap the NZD/AUD cross this week, with a break below 0.9110 expected.
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GBP/USD extends recovery, takes-out hourly 200-SMA

The ongoing recovery in GBP/USD pair found fresh legs earlier in Asia and now extends higher towards 1.43 handle, having taken-out 200-SMA at 1.4257.
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