Flash: AUD reversing? – BBH
FXstreet.com (London) – AUD/USD is higher, and a research team at BBH looked at the fundamentals of recent activity.
Australia’s new home sales fell sharply but better private capital expenditures was enough to help the Aussie to break its losing streak.
“Capex rose 3.6% (vs. exp. -1.2%) in Q3, though Q2’s readings were revised lower from 4.0% to 1.6%. The details of the report showed that spending on buildings and structures increased 6.3% while investments in new plant and equipment fell 1.5%”.
“New home sales data, however, fell by 3.8% m/m in October, compared with a positive reading of …read more