OctaFX | OctaFX Forex Broker
Open trading account
Back

Record capex decline, prelude to further AUD weakness - BNPP

FXStreet (Delhi) – Economists at BNP Paribas, notes that the Australian Q3 Capex came in well below, declining 9.2% q/q, the weakest quarterly print on record.

Key Quotes

“There were also downward revisions to Q2 data. The surveyed outlook for 2016 was broadly in line with consensus. However, our AU rates strategist notes that it still represents a 20% fall from what the survey estimated for this time last year. In our view interest rate markets continue to underprice the potential for further RBA easing, with fewer than 20bp worth of easing priced in over the next twelve months.”

“We remain bearish on AUD accordingly and continue to hold a AUDUSD 0.70 put with a 0.64 RKO expiring 5-Feb-16. Elsewhere, New Zealand’s October trade deficit narrowed by slightly more than expected.”

Relatively quiet day with few economic releases for the day – Danske Bank

Research Team at Danske Bank, suggests that with the US market closed due to Thanksgiving, today is set to be a relatively quiet day on the data front.
Read more Previous

Gold rejected at confluence of hourly 100-MA & 50-MA

Gold prices failed to rise above the hourly 50-MA and 100-MA seen around USD 1074.50/Oz levels earlier today.
Read more Next
Start livechat