AUD/USD Little Changed, Construction PMI Rises
AUD/USD is trading at 0.7521, up 0.0008.
The pair is trading at the high of the session, the overnight trading range has been moderately wide and choppy.
Market chatter about global money flows and Australia's elections has kept both buyers and sellers active.
Australian Industry Group's (AIG) construction PMI (purchasing managers survey) for June rose to 53.2 from 46.7 in May. Overnight there has been a lot of talk about Standard & Poor's downgrade of Australia's AAA credit rating from stable to negative. The pair pushed down in rapid fashion after the announcement and has since recovered.
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