The Australian Dollar (AUD) was under pressure being sold on rallies given the weakness in Chinese stocks and Portuguese debt downgrade warnings. October Building Permits were strong gaining +9% vs. 1.5% forecast. Overall the AUD/USD traded with a low of 0.9542 and a high of 0.9663 before closing the US session at 0.9595. Looking ahead, Q3 GDP forecast at 0.5% vs. 1.2% previously.
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