The Australian dollar had risen to 77.52 US cents .
In economic news, the ABS will publish its March quarter GDP figures, which will reveal how fast Australia's economy has recovered from COVID-19, and whether it has surged past its pre-coronavirus levels.The nation's economy is expected to have grown by a strong 1.5 per cent , according to a poll of economists conducted by Reuters. ANZ's predictions were the most optimistic of the lot, with its economist tipping a 2.1 per cent jump.
ANZ senior economist Felicity Emmett said the "key message" from today's data is likely to be that "the economy is now transitioning strongly from recovery to expansion". "Consumer confidence is back to pre-pandemic levels, and household consumption is in a position to grow strongly over the next year given the still-elevated saving rate and a large stash of deposits built up over the past year," she said.
"The strength in the housing sector, both in terms of prices and construction, will also help to drive the expansion over the coming year."
Come on tell us how this is Morrison's fault. We NEED you to decode the news for us! It can't be good news with him, an evangelical, in charge. It just can't! Say it ain't so!
Fortescue is over valued
Then why do bhp shares always go down when the price rise gets reported.
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