29 Aug 2013
Flash: AUD/USD cause for concern? – UBS
FXstreet.com (New York) - Risk of more downside ahead as tensions in the Middle East have hurt the AUD/USD recently, and there is cause for concern, notes Research Analyst Gareth Berry at UBS.
Key quotes
Australian business investment rose four per cent in the June quarter, beating economist expectations of a 0.8% rise, according to the Australian Bureau of Statistics figures, which cover investment in capital goods such as buildings and equipment.
However, while the figures showed mining investment was still chugging along, the more important non-mining investment figures were disappointing, said ANZ chief economist Ivan Colhoun.
Key quotes
Australian business investment rose four per cent in the June quarter, beating economist expectations of a 0.8% rise, according to the Australian Bureau of Statistics figures, which cover investment in capital goods such as buildings and equipment.
However, while the figures showed mining investment was still chugging along, the more important non-mining investment figures were disappointing, said ANZ chief economist Ivan Colhoun.