Australia Private Capital Expenditure Q4 3.0% vs est 1.0%; prev -3.0%

Ross J Burland FXStreet

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.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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