Flash: RBA to keep an eye on capex – Westpac
FXstreet.com (Barcelona) – While there is still very little chance of another rate cut next week, the RBA will be paying close attention to Australia’s capital expenditure data today, notes Sean Callow, FX Strategist at Westpac.
“The initial AUD response will be to the Q2 actual capex, which we see remaining soft, -1% q/q after Q1’s -4.7% but with the median forecast 0.0%. In the breakdown, we expect plant & equipment spending about flat but building & structures -2% on further unwinding of the boom in mining investment. The P&E component is most important for Q2 GDP due Wed, …read more