Euro is Recovering Versus US Dollar
The European markets, with the exception of Spain, are stable. The euro is recovering against the US dollar. The British pound declined and traded as the weakest major currency after weak data on the UK construction PMI. The US dollar remains stable.
The UK PMI construction fell to the lowest level since July 2016. The indicator decreased to 48.1 level in September.
The RBA left the cash rate unchanged at 1.50%. The central bank is optimistic about economic development, relying on improved investment. Politicians also recognized the strength of the Australian labor market.