Investing.com-- Australia’s economy grew slightly less than expected in the third quarter on weak export demand, particularly in China, although domestic spending remained robust amid high interest rates and inflation.
The Aussie dollar sold off a bit during the trading session on Tuesday, breaking below the 200-Day EMA during the session.
The U.S. dollar stabilized in early European trade Tuesday, near a one-week high, as traders scaled back dovish Federal Reserve bets ahead of key economic data releases. At 04:30 ET (09:30 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded largely unchanged at 103.559, after recording its weakest monthly performance in a year in November. The dollar was on the backfoot for most of November as traders began pricing in bigger rate cuts by the Fed next year than by any other major central bank.