Forex Flash: Odds of a December RBA cut closer to if not above 50% - NAB

FXstreet.com (Barcelona) - From the point of view of the outlook, a weaker capital spending outlook published earlier today, "suggests that the RBA has more work to do to support the medium term growth outlook, and not only is another easing out there, but is opening the door to the potential for more" David deGaris, NAB senior economist notes.

Will the RBA then cut in December? Mr. deGaris adds: "We've been saying that the data to this week and a recent RBA speech from the Governor suggested that rates would be on hold till the new year, yet today's capital spending outlook though increases to odds of an easing in December much closer to if not above 50%."