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South Korea GDP: On the path to recovery

Analysts at Australia and New Zealand Banking Group (ANZ) offer their afterthoughts on the South Korean GDP data release that outpaced expectations.

Key Quotes:

“South Korea’s preliminary Q4 GDP came in at 1.2% q/q sa and 2.2% y/y, beating expectations. Government spending and exports were the key contributors to y/y growth, but the drag from investment also eased.

2019 growth came in at 2.0% (the weakest since the global financial crisis), but is expected to pick up in 2020 against a backdrop of improving exports and strong fiscal support.”

NZD/USD Price Analysis: Bears aim for five-week low of 0.6554

NZD/USD stretches losses to monthly of 0.6581 by the press time of early Wednesday. The pair remains on the back foot below 200-bar SMA and 61.8% Fibonacci.
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AUD/USD Price Analysis: Fresh lows, channel support tested, Golden Ratio in focus

It was not a good day for the Aussie bulls overnight and commitments were lost at the H&S neckline. Subsequently, the price closed on a daily closing
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