Currency Update: US Q4 GDP rose at an annualised rate of 3.2%, AUD is now trading at 0.8785, today in Australia the RBA releases the private sector credit data...

Currency Update: US Q4 GDP rose at an annualised rate of 3.2%, AUD is now trading at 0.8785, today in Australia the RBA releases the private sector credit data for December. Credit growth continues to be weak, running at just 0.3% per month. The US economy grew 1.9% in 2013 with a rise of 2.8% expected this year. In currency markets, emerging market currencies pared recent losses after the Russian central bank stepped in and supported the rouble by pledging 'unlimited' intervention. Tonight, US personal incomes and spending are expected to show a 0.2% gain in December, while the Chicago PMI is expected to be little changed at 59 in January. European CPI and unemployment, and Canadian GDP data are also out tonight.