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Australia's Capex next key event - ANZ

FXStreet (Bali) - ANZ expects real CAPEX to have declined 0.3% q/q Q2, with further elaboration on their views shared below.

Key Quotes

"In Australia today the key release will be the Q2 CAPEX report published at 11:30AEST. A key uncertainty for the Australian economy as it navigates the transition away from mining led investment growth is the pace and magnitude of the upswing in non-mining business investment."

"ANZ are expecting a raw non-mining estimate of AUD64.5bn which would point to a modest improvement in non-mining business investment of around 8% y/y in 2014-15."

"Such an outcome would support our view that the transition to non-mining growth is occurring, albeit gradually, and as a result the RBA will keep interest rates on hold for an extended period to entrench the recovery in these sectors."

"We expect actual real CAPEX to have declined 0.3% q/q Q2, with plant & equipment investment up a solid 2% and non-residential capex down around 1.5%."

AUD/JPY losing the battle for the 97 handle

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