29 May 2014
Aus Capex next: AUD/USD reaction
FXStreet (Bali) - Australia's capex is the main event in Asia, with a Bloomberg survey to economists pointing at -1.9% expected vs -5.2% last. Reuters expects -1.4%.
The data is important for the RBA in order to assess how the Australian economy is doing on its transition from a mining boom-led growth to a more diversified investment era. Official estimates from Bloomberg see the capex for 2014-15 season at A$127.8 bn vs A$124.9 bn last.
On the lead up the the key risk event, the Australian Dollar has continued to stubbornly hold above the 0.92 on barrier protection talk. Should capex disappoint, expect the level to come into focus again, while upbeat figures should see a decent bounce, potentially threatening a comeback to 0.9270/75 resistance.
The data is important for the RBA in order to assess how the Australian economy is doing on its transition from a mining boom-led growth to a more diversified investment era. Official estimates from Bloomberg see the capex for 2014-15 season at A$127.8 bn vs A$124.9 bn last.
On the lead up the the key risk event, the Australian Dollar has continued to stubbornly hold above the 0.92 on barrier protection talk. Should capex disappoint, expect the level to come into focus again, while upbeat figures should see a decent bounce, potentially threatening a comeback to 0.9270/75 resistance.