US Dollar Decreased Against Major Currencies
The US dollar remains weighed down by uncertainty about Donald Trump's tax policy and is trading generally lower. The dollar index is at 93.30 level. The euro remains stable, as the risk in Catalonia is weakened.
The International Monetary Fund lowered the US growth forecast to 2.2% in 2017 and 2.3% in 2018 compared to the April forecast of 2.3% and 2.5%, respectively. The IMF noted that the downward revision compared with the April forecasts reflects a significant correction in the assumptions of the US budget policy. The IMF also forecasts growth of the world economy by 3.6% in 2017 and 3.7% in 2018 compared to the April forecast of 3.5% and 3.6%, respectively.
According to a survey, conducted by Westpac Bank, consumer confidence in Australia improved by 3.6% to 101.4 in October, after a 2.5% increase in September to 97.9.