FXstreet.com (Barcelona) - Following a push north towards 1.0475, the AUD has badly failed to hold its post Australia Capex-induced pop and is now turning lower bottoming out at USD 1.0460.



The Aussie capex beat expectations printing +2.8% vs 2.0% cons. yet under closer inspection, the market appears to have spotted some weak components. For some analysts, the capex data suggests that the Australia's mining boom has reached its peak, and that is what seems to be driving the AUD lower.



According to David Scutt, Treasury Dealer at Arab Bank Australia, "question now is will the RBA ease in Dec to help households/businesses take up the slack? Odds are now 62% for a cut according to rate futures..."



You May Also Like

Related Forex Analysis
  1. Forex News

    Monetary Policy Speculation Continues Next Week With NFPs, RBA and BoE

  2. Forex News

    Japanese Yen: Up or Down? Next Week Holds the Keys

  3. Forex News

    GBP Opening Monthly Range Hinges on BoE Vote Count, Inflation Report

  4. Forex News

    Gold Holds Key Support- NFPs to Shape August Opening Range

  5. Forex News

    USDMXN: Banco de Mexico Increases Intervention

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!