Australia Private Capital Expenditure Q4 3.0% vs est 1.0%; prev -3.0%
|The Australian Private Capital Expenditure for the fourth quarter arrived at 3.0% vs an estimate of 1.0% vs the previous -3.0%.
That is a surprisingly strong number and should help to support the Aussie currency.
''Businesses are upbeat, uncertainty has decreased and supply lines have improved,'' analysts at Westpac noted.
Additionally, for AUD, the bullish mood returned to commodity markets.
The CRB index shot up to a fresh cycle high and with a slightly weaker USD and higher US bond yields.
The commodity complex is thriving and can be expected to support the Aussie barring any temporary bullish corrections in the greenback.
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