Global ratings agency Fitch Ratings is out with its latest assessment on the Australian economy, with the key findings noted below.

“Financial flexibility supports issuers as Australia transitions to living with COVID-19.”

“Expect activity to begin to rebound in late 2021, as Australia’s two largest cities, Sydney and Melbourne, emerge from pandemic-related lockdowns.”

Market reaction

AUD/USD is trading 0.10% higher on the day at 0.7422, as of writing, flirting with fresh monthly tops of 0.7427 reached on Thursday.