AUD/USD jumps 25 pips on upbeat Aussie Capex figure

  • The bid tone around the AUD strengthened after the Q4 Aussie private CAPEX printed above estimates. 
  • The first estimate for 2019-20 CAPEX came in at A$92.144m, signaling neutral conditions for investments this year. That could cap gains in the AUD. 

The AUD is pushing higher across the board in response to an above-forecast Aussie private capital expenditure (CAPEX) figure for the fourth quarter. 

The Australian Bureau Of Statistics (ABS) released at 0030 GMT today showed the private CAPEX jumped 2 percent in December quarter, convincingly beating the forecast of 0.5 percent growth. CAPEX had dropped 0.5 percent in the three months to September 2018. 

Further, the fifth estimate of for 2018-19 came in at A$118,361m – 3.6% higher than the fifth estimate for 2017-18 and 4.0% higher than the fourth estimate for 2018-19.

More importantly, the first estimate for 2019-20 printed at A$92.144m – 11 percent higher than the first estimate for 2018-2019. 

While a big beat on the fourth quarter figure could lift the GDP, due for release next week, the first estimate of $92.144m is somewhat a “neutral” result for investment in the coming year, according to Westpac. 

So, AUD/USD may have a tough time scaling the crucial resistance of 0.72. The currency pair jumped 24 pips to 0.7166 immediately post-CAPEX release and is currently trading at 0.7153. 

Technical Levels

    1. R3 0.7254
    2. R2 0.7226
    3. R1 0.7182
  1. PP 0.7155
    1. S1 0.711
    2. S2 0.7083
    3. S3 0.7039



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD hovering above 1.1050 amid trade concerns, ahead of ECB minutes

EUR/USD is trading above 1.1050, at familiar levels. Doubts that a US-Sino trade deal may be reached are weighing on markets. The Fed's minutes have reaffirmed the wait-and-see mode, and the ECB's minutes are awaited. 


GBP/USD advances above 1.29 as Conservatives remain in the lead

GBP/USD is rising above 1.29 as fresh opinion polls continue showing a solid lead for Prime Minister Boris Johnson's Conservatives. Further political headlines are awaited.


USD/JPY bounces-off 50-DMA but lacks follow-through

USD/JPY has bounced up from the 50-day MA support of 108.28. China's Vice Premier Liu He is cautiously optimistic about the prospects of the US-China trade deal. Related markets, however, are not buying Liu He's optimism, keeping the recovery in check. 


Gold flirting with session lows, around $1470 region

Gold edged lower through the Asian session on Thursday and is currently placed near the lower end of its daily trading range, around the $1470 region.

Gold News

Hong Kong now a feature in trade negotiations?

The US Senate and House have both passed the Hong Kong Human Rights and Democracy Bill, so now it heads to the desk of US President Trump to either sign or veto it. Sources suggest that the President will sign it into law.

Read more