Bell Potter

Currency Update: The AUD is maintaining levels above USD 0.9500 after US Senate leaders reached a last-minute deal that temporarily extended the debt ceiling and will reopen the government. The AUD, NZD and CAD outperformed, with the AUD/USD rising to fresh 4-month highs above 0.9550. The AUD is expected to remain buoyed in the short-term, however, the markets retain a medium term view that commodity prices and the narrowing interest rate differential will eventually weigh on the AUD. Today in Australia, NAB releases the Q3 Business Survey and The RBA today releases the monthly FX transactions data for September. The EUR and GBP sell off sharply on news of a 'deal'. USD/JPY also rallied. Emerging market currencies also enjoyed solid gains. Today's Forecast Range: USD 0.9500 - 0.9600


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