AUD/USD is consolidating after September’s rejection at a key multiyear trend line, with the 50-DMA offering support and defining the near-term range, Société Générale's FX analysts note.
The AUD/USD pair jumps to near 0.6600 during the European trading session on Tuesday. The Aussie pair has been trading strongly as the Australian Dollar (AUD) outperforms its peers, following the monetary policy announcement by the Reserve Bank of Australia (RBA).
2025 and 2026 budgets underscore the government’s infrastructure and defence ambitions. Recent data on construction and investment signal tentative benefits from fiscal stimulus. Trade pressures create short-term headwinds; red tape, skills shortages could undermine fiscal stimulus.