Australia’s Private Capex misses estimates with -3% in Q3, AUD/USD unfazed
|Australia’s Private Capital Expenditure fell more-than-expected in the third quarter, the latest data published by the Australian Bureau of Statistics (ABS) showed on Thursday.
Total new capital expenditure fell by 3% in the September quarter 2020 vs. -1.5% expectations and a 5.9% slump witnessed in the June quarter.
Additional details
“Buildings and structures fell by -3.7% in the September quarter 2020.”
“Equipment, plant and machinery fell by -2.2% in the September quarter 2020.”
“Estimate 4 for 2020-21 is $104,984m. This is 6.3% higher than Estimate 3 for 2020-21.”
Market reaction
AUD/USD showed little reaction to the dismal aussie data, consolidating the rally to two-month tops of 0.7373.
At the time of writing, the aussie trades modestly flat at 0.7365.
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