Morning note on the AUD ... "perhaps buoyed by M&A news"

This via HSBC from the NY morning (so, a few hours ago):

• The AUD has rallied overnight despite softer economic data, perhaps buoyed by M&A news. The NAB business conditions survey dropped to +12 in November, more than reversing October's pop higher and leaving the index at its lowest point this year. Nonetheless by historical standards, the level of the index remains robust. House prices fell 0.2% QoQ during Q3 (consensus +0.5%) which meant the YoY rate slipped to 8.3% from 10.2%.
• However, the AUD proved resilient to these disappointments as Europe's Unibail-Rodamco SE agreed to buy Australia's Westfield for about AUD21bn with a combination of stock and cash

I bolded that last bit. More here

• Europe's largest listed commercial property company agreed to buy his Westfield Corp in a $32.8 billion deal. The boards of Westfield and Unibail-Rodamco have unanimously recommended the deal.