AUD/USD flows: GDP Misses

The Q1 Australian GDP came in lower than estimate at 0.2% and 1.3% y/y. The household saving rate also went up to 5.2% from 3.9%, suggesting the unlikelihood of a strong rebound in consumption. Regional equities continue to outperform U.S. equities and supports the Aussie.

AUD/USD is up 0.18% to 0.6475.