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Out of luck Aussie bulls on poor Capex

FXStreet (Guatemala) - AUD/USD's resilience has been dented on the back of the Capex data coming in well below the expected bracket of between - 2.9% / -4.%.

The major commodity currency has falling free fall over 30 pips on the release as the actual number Q/Q for Q3 arrived at -9.2%. Meanwhile, while the 4th estimate of investment plans for 2015/16, with the survey conducted from Oct to early Nov arrived in line with expectations, coming in at A$120bln and against 3rd estimate of A$115bln.

The bulls hard work has all been but erased from the recovery at 0.7227 that made highs of 0.7262 leading into the data. The focus will now be over a chilled-out RBA until the February and the FOMC this December and key data leading into the the subsequent Fed's interest rate decision.

AUD/USD downside targets

Technically, AUD/USD bears are targeting the key 100 DMA at 0.7201 with a key objective targeting the pre-Aussie jobs data news price at 0.7060 in the medium term.

Australia's capex: Major headline miss, 4th estimate 15/16 at A$120bln

Australia's private capital expenditure (CAPEX) has come at -9.2% for Q3 vs -2.9% expected and -4% prior, while the 4th estimate of investment plans for 2015/16, with the survey conducted from Oct to early Nov, coming at A$120bln, in line with expectations and against 3rd estimate of A$115bln.
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Australia's CAPEX: The plot thickens for the RBA

The Australian Dollar is selling fiercely following a disappointing CAPEX (private capital expenditure) release in Australia, with the currency exchanging hands over half a cent lower around 0.7220 against the US Dollar, while against the Yen, the last printings show 88.45/50 quotes.
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