Aussie gains as data beats the forecasts

Aussie gains for the fourth day against the greenback cousin as the reported data were higher and more likable than forecasts. A report was released by the Australian bureau of statistics yesterday showed a growth in the Building approvals surged during the month of January by 6.8%, which gave the Australian dollar a strong push targeting the level of 0.8960. The biggest jump was today, when another report was released y the same agency shows 0.8% growth in quarterly GDP measure for the fourth quarter in 2013, 0.1% higher than the expectations and 0.2% over the last release.

The kangaroo currency jumped by 0.2% during the Asian trades, just after the GDP report. Hitting the level of 0.8996, the highest in a week, rising from 0.8956 and supported at 0.8955 on 38.2% retracement level.