By FX Empire.com
The AUD/USD pair dropped to its lowest level in six weeks, as the US dollar gained against most of its major counterparts due to the risk aversion that controlled the FX market.
On the other hand, most of the global burses have ended last week with losses, which reduced demand for higher yielding assets such as the Aussie and increased demand for safe haven currencies.
On Tuesday at 13:30 GMT, the U.S. economy will release the annualized Gross Domestic Product for the third quarter, where it’s expected unrevised at 2.5%.
The Personal Consumption for the third quarter is also expected unrevised at 2.4% as well as the Core Personal Consumption Expenditure to hold at 2.1%.
At 19:00 GMT, the Federal Reserve Bank will release its minutes for the Nov. 1-2 FOMC meeting.
Originally posted here
