FXstreet.com (Barcelona) – There will be close attention on Australia’s private capex survey today (8GMT), notes Sean Callow, FX Strategist at Westpac.
“After a 4% q/q jump in investment in Q2, Westpac is in line with the median forecast in looking for a -1.2% pullback. We expect falls of about 1-1.5% in both plant & equipment and buildings/structures, with the former the more important component for next Wed’s GDP release.”
“AUD will react to the divergence between the actual spending and -1.2% median but the RBA will be paying more attention to the update on investment plans for 2013/14.”
“In the …read more