The AUD/USD pair witnessed some gains after more than three weeks of losses, where the greenback lost momentum against most of its major counterparts, opening the way for the Aussie to record more gains.
The risk aversion eased after the credit ratings agencies confirmed the steady rating for the United States despite the impasse at the super committee, which increased risk appetite in the financial market and reduced demand for safe haven.
On Wednesday at 23:00 GMT (Tuesday), the Australian economy will release the Conference Board Leading Index for September, where it had a previous reading of -0.1%.
At 00:30 GMT, Australia will issue the Construction Work Done for the third quarter, which had a prior reading of 0.7%.
On Wednesday at 13:30 GMT, the U.S. economy will release the Durable Goods Orders for October, which is expected to come at -1.0% from the previous -0.8%.
Also the Personal Income for October will be released at the same time and expected to improve to 0.3% from 0.1% while the U.S. Personal Spending is expected to slow to 0.3% from 0.6%.
The annual Personal Consumption Expenditure Core for October is expected to come at 1.7% compare to the previous reading of 1.6%.
At 13:30 GMT, the U.S. economy will issue its weekly initial claims, where the number of people filing for first-time claims for the state unemployment insurance fell to 388 thousand last week.
Finally, the U.S. economy will release the University of Michigan Confidence for November at 14:55 GMT, where the final reading is expected to come at 64.5 from the prior reading of 64.2.
Originally posted here
