There are early signs that AUD/NZD's week-old correction lower is complete, says Westpac Institutional Bank strategist Imre Speizer. The AUD/NZD rises to 1.0489 in early Asian trading on Wednesday, from below 1.0468 in overnight trading in the US. Speizer thinks that's about as high as it will go today, predicting the cross will be largely neutral around 1.0480. Australian 3Q construction work leads the daily data slate, with Speizer anticipating a further fall albeit at a more modest pace than before. "Mining investment remains the culprit," he says. "Public sector activity however continues to show strength."
