Aussie Capex Overview
Early Thursday at 00:30 GMT sees Australian Capex, or Private Capital Expenditure, a key reading that may give traders hints about the Reserve Bank of Australia, and a good reading of the Capex data could see the RBA further emboldened, which has been emboldened lately by improving economic data for the Aussie continent, although late Tuesday’s action on the back of the US Federal Reserve may have left the AUD/uSD exposed to downside is the Capex reading fa
How could it affect the AUD/USD?
With the Fed hanging over everything inthe markets, and a lack of clear forwrad guidance from the Fed, and as FXStreet’s own Valeria Mednarik noted, “
Is not the first time the pair attempts to regain the 0.7300 level, but for the past three months, it has been unable to sustain gains above it. The mentioned monthly high is a critical psychological resistance, with scope to extend gains on a break above it. Technical reading support such advance, given that, in the 4 hours chart the pair has advanced firmly above all of its moving averages, while technical indicators maintain firm bullish slopes near overbought levels.
Support levels: 0.7300 0.7270 0.7235
Resistance levels: 0.0.7340 0.7375 0.7400
Key note
The Aussie saw a fast rally above 0.7300, and buyers will want to
Australia: Capex to confirm RBA optimism – TDS
Australia: CAPEX survey to provide some further guidance on growth prospects – Westpac
About the Aussie Capex
The Private Capital Expenditure released by the Australian Bureau of Statistics measures current and future capital expenditure intentions of the private sector. It is considered as an indicator for inflationary pressures. A high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).
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