Australia Q1 GDP rose 1.3% from the previous quarter, more than double the +0.6% growth expected...

|By:, SA News Editor

Australia Q1 GDP rose 1.3% from the previous quarter, more than double the +0.6% growth expected and up from a revised +0.6% in Q4. GDP +4.3% Y/Y. The data prompted traders to pare bets of a rate cut next month, and boosted the Aussie dollar (+1.04% to $0.9845) and local stocks (ASX 200 +0.3%).