AUD/USD Drops Below 0.77 as Australian Capex Falls 4.4%

Australian business investment fell by 4.4 per cent in the March quarter, worst than economists’ forecasts of a 2.4 per cent fall.

The closely-watched figures, released by the Australian Bureau of Statistics, cover investment in capital goods which includes such things as buildings and equipment.

Businesses collectively expect to invest $149.946 billion on capital goods by the end of the 2014/15 financial year, which is 8.1 per cent lower than the same estimate made for the previous year, the ABS said on Thursday.  During the 2015/16 financial year businesses expect to invest $104.033 billion, which is 24.6 per cent lower than the corresponding estimate made for 2014/15.

Sky

Stuart McPhee
Stuart McPhee

Australian private trader for nearly 20 years, author, trading coach, licensed adviser and regular speaker at major trading events all around the world. Graduate of RMC Duntroon and former Australian Army Officer.