AUD/USD is seen to be showing recovery towards 0.7200. Overall market sentiment has been more positive due to positive sentiment around US stimulus as well as Donald Trump’s recovery.
Australia’s budget announcement is due tomorrow – the national debt ceiling is expected to be increased to over AUD 1.1 trillion.
In a related news, Australian construction PMI moved up to 45.2 in September (vs 37.9 in August). Although a good increase, it is still in contraction.
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