Australian Treasurer Swan is due to speak today. This from the text of his comments before delivery:
- “It’s clear that the massive write down we’ve seen in revenue means the budget will remain in deficit for longer than previously forecast,”
- “The high dollar is a big part of the reason why our economy’s transition may not be seamless,”
- “There may be bumps along the way, including in the labor market as resources projects enter a less labor intensive phase and the non-mining economy takes time to pick up.”
Swan is to be speak at an event for the Committee for Economic Development of Australia.
AUD/USD is not moving, currently 1.0370/74
