Australian growth stagnates in Q1.

Australia's Q1 GDP was flat at 0.6% on quarter and came in below consensus of +0.8%. With exports helping to drive growth, one economist says the figures highlight the weakness of domestic demand.The reading shows that Australia's transition to growth led by non-resource industries as the mining boom peaks is still "fairly hesitant and slow." The Aussie (FXA) was -0.9% vs. the U.S. dollar at the time of writing.