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Forex & Equities: AUD Surges on Higher CAPEX

Posted by Akhilesh Ganti on Aug 27, 2014 10:52:00 PM

Australia's Q2 Private Capital Expenditure (CAPEX) came out at +1.1% which was markedly higher than estimates of -0.9%. AUD/USD, which had been trading around 0.9330 prior to the release, spiked to current session highs of 0.9375 on this surprising result. The key component for optimism was that Australian companies plan to spend AUD 145.2 Billion in 2014/15, a higher figure than had been originally forecast suggesting an increase in economic activity might be forthcoming. This, in turn, could be a harbinger for an increase in employment and other growth metrics which could see the economy recover from its recessionary state.

{chart: Bloomberg}(click to enlarge)
AU Capex Q2 082714

Ranges:{WWM's New ALPHA Trader - DAILY charts [EUR, GBP, AUD, YEN, GOLD, OIL, DXY]}(click to enlarge)

FX 082814

Equities:{WWM's New ALPHA Trader - DAILY charts [Dow30, SP500, Nasdaq100, Nikkei225, China, HKG40, Nifty50, ASX200]}(click to enlarge)

STOCKS 082814

Topics: Asian session, Ranges


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