Flash: Capex may help the AUD recover in the near term – RBS
FXstreet.com (Barcelona) – The Australian Dollar is trading unusually strong – if one takes last week as indication – , up threatening 0.9135/45 resistance, following a stronger capital expenditure survey in Australia. Amid the improved data, Greg Gibbs, FX Strategist at RBS, thinks that this may help the AUD recover in the near term.
“However, the data picture for the AUD has been generally better than expected for some months. It will not dispel the main problem that the resource investment outlook has weakened further, the market is demanding a higher risk premium for a more uncertain growth outlook …read more