Australian Dollar Drops After Dismal Capital Expenditure Data
29 Agosto 2019 - 5:28AM
RTTF2
The Australian dollar slipped against its major counterparts in
the Asian session on Thursday, as a data showed that the nation's
capital expenditure declined unexpectedly in the second quarter as
robust growth in machinery and equipment investment was offset by
weaker spending on buildings.
Data from the Australian Bureau of Statistics showed that total
new capital expenditure decreased 0.5 percent sequentially in the
second quarter, confounding expectations for an increase of 0.4
percent.
On a yearly basis, overall capex was down 1 percent in the
second quarter.
Asian stocks are trading mostly lower as the bond rally
continued unabated, exaggerating the risk of recession.
U.S. Treasury Secretary Steven Mnuchin said that trade talks
will continue, but seems uncertain about September meeting.
The aussie declined to 3-day lows of 0.6717 against the
greenback, 71.12 against the yen and 1.6501 against the euro, from
its early highs of 0.6744, 71.54 and 1.6437, respectively. If the
aussie slides further, 0.63, 66.00 and 1.69 are possibly seen as
its next support levels against the greenback, the yen and and the
euro, respectively.
The aussie depreciated to a 2-day low of 0.8943 against the
loonie, off an early high of 0.8973. The currency is likely to find
support around the 0.80 level.
The aussie eased off slightly to 1.0635 against the kiwi, from
near a 4-month high of 1.0664 hit at 11:15 pm ET. The aussie is
seen finding support around the 1.05 level.
Looking ahead, Eurozone economic sentiment, German jobless rate
and flash inflation data, all for August, are due in the European
session.
In the New York session, U.S. weekly jobless claims for the week
ended August 24, wholesale inventories for July and GDP data for
the second quarter are slated for release.
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