Bell Potter

Bell FX: The AUD has a hit a low of USD0.8999, currently at 0.9025, after news the Q3 GDP rose by just 0.6% (market forecast 0.8%). Growth in the economy remains skewed towards mining, with mining production rising 2.7% in the quarter, while non-mining output only managed to eke out a 0.2% rise. While the windback in mining investment expected over the next couple of years will weigh on growth, there are some early signs that other sectors of the economy are starting to pick up, with housing investment likely to strengthen and the lift in consumer confidence signalling somewhat stronger household consumption growth going forward. Unemployment is forecast to rise to 6.6%. Today's Forecast Range USD: 0.8990 - 0.9085


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