AUD traders - Federal Budget to be announced Tuesday evening local time

  • Following tonight's budget the announcement of the Federal election will be imminent

Tonight's budget will steer government spending away from emergency economic support (over the pandemic). But government spending might shift its focus but there will be new programs announced, especially with an election imminent, the next election must be held by 21 May. So, plenty of goodies for the voters tonight, notably dialling back of fuel tax to appease motorists (I shall be one of the appeasees ... if that's a word).

Announcement due at 7.30pm local (Sydney) time, which is 0830 GMT, although I expect we'll get info on what is in the budget before then (targeted 'leaks' and what have you).

Australian treasurer Frydenberg

Australian Treasurer Frydenberg

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