Australian Dollar Drops After Dismal Capital Expenditure Data

Date : 08/29/2019 @ 4:28AM
Source : RTTF2
Stock : Australian Dollar vs Japanese Yen (AUDJPY)
Quote : 74.6272  0.2512 (0.34%) @ 12:19AM
AUD vs Yen share price Chart

Australian Dollar Drops After Dismal Capital Expenditure Data

Forex Chart

From Jul 2019 to Jul 2020

Click Here for more AUD vs Yen Charts.

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.

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts
Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20200703 23:34:52