The private capital expenditure in Australia sharply decreased in the third quarter, mainly due to renewed weakness in mining investment. As the Australia Bureau of Statistics said, the Private Capex index decreased by 9.2% q/q (seasonally adjusted), posting the sharpest decline in more than 15 years. The market expected a little milder decline of 2.8% q/q in the reported period. Reserve Bank of Australia Governor Glenn Stevens admitted that the slowdown in mining investment is only about half way through its cycle, and he did not expect any immediate recovery in non-mining investment ahead for Australia.
The AUD/USD pair is trading below the important market resistance at the level of 0.7296. The next support is seen at the level of 0.7158.
The material has been provided by InstaForex Company – www.instaforex.com
Global macro overview for 27/11/2015:
The private capital expenditure in Australia sharply decreased in the third quarter, mainly due to renewed weakness in mining investment. As the Australia Bureau of Statistics said, the Private Capex index decreased by 9.2% q/q (seasonally adjusted), posting the sharpest decline in more than 15 years. The market expected a little milder decline of 2.8% q/q in the reported period. Reserve Bank of Australia Governor Glenn Stevens admitted that the slowdown in mining investment is only about half way through its cycle, and he did not expect any immediate recovery in non-mining investment ahead for Australia.
The AUD/USD pair is trading below the important market resistance at the level of 0.7296. The next support is seen at the level of 0.7158.
The material has been provided by InstaForex Company – www.instaforex.com
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