Australian private sector economic researchers BIS-Shrapnel says that:
- While construction activity will gain momentum over the next two years
- The pace will be uncomfortably slow, not sufficient to replace the mining industry as the country’s leading source of growth
- Also, not all states will benefit
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The AUD/USD popped to 0.9280 as Sydney opened, from its earlier 0.9250 opening levels.
There is selling ahead of 0.9300, with some stops just above 0.9300 and 0.9310/20 and 0.9330
Sellers again 0.9350
On the downside, minor buying 0.9230, better bids just ahead of and around 0.9200