Australian Treasurer Chalmers: Budget deficit will be around A$50bn smaller than forecast

Australia’s Treasurer Jim Chalmers revealed on Tuesday that the country’s budget deficit will be around A$50 billion smaller than forecast.

Additional quotes

“The final budget will be released next week.”

“The budget deficit in FY 21/22 will show improvement on the forecast.”

Market reaction

At the time of writing, AUD/USD is testing lows at 0.6713, shrugging off the above comments from Chalmers. The spot is down 0.16% on the day.