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28 May 2015
AUD/USD smashed through 0.77 on Capex
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7697 with a high of 0.7792 and a low of 0.9692.
AUD/USD was expected to benefit on the Capex data that was bid right up to the data release but turned south on the numbers which were a surprise to the downside given the lower rate of exchange in the currency and rates of borrowing. Nevertheless, we are trading the news and the 0.77 is under threat at this point.
The data arrived as -4.4% for Q1 vs - 2.2% in Q4 last year, while most important was the second estimate for 2015/16 where Capex was A$104.0 bln vs earlier higher estimates of A$109.8 bln and that has really put a dent in the currency, now breaking the handle. Technically, we are moving in to highly bearish territory below this 0.77 handle with 0.7534 April lows in sight.
AUD/USD was expected to benefit on the Capex data that was bid right up to the data release but turned south on the numbers which were a surprise to the downside given the lower rate of exchange in the currency and rates of borrowing. Nevertheless, we are trading the news and the 0.77 is under threat at this point.
The data arrived as -4.4% for Q1 vs - 2.2% in Q4 last year, while most important was the second estimate for 2015/16 where Capex was A$104.0 bln vs earlier higher estimates of A$109.8 bln and that has really put a dent in the currency, now breaking the handle. Technically, we are moving in to highly bearish territory below this 0.77 handle with 0.7534 April lows in sight.