Private Capital Expenditure down by 5.2% in Q1

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Thursday, May 26 2016

The trend volume estimate for total new capital expenditure fell by 2.8% in the March quarter 2016 while the seasonally adjusted estimate fell by 5.2%. Analysts were predicting decline by 2.4%.The trend volume estimate for buildings and structures fell by 3.6% in the March quarter 2016 while the seasonally adjusted estimate fell by 7.9%. The trend volume estimate for equipment, plant and machinery fell by 1.0% in the March quarter 2016 while the seasonally adjusted estimate fell by 0.5%.

The Aussie regained some ground after a mixed capital expenditure report included a slight upgrade to overall spending plans for the year ending June 2017. “Investment intentions are a little bit better than we had feared and in particular a pickup in services investment intentions is encouraging,” said Westpac’s Callow.

Aussie is currently being traded few points above 0.72 level. Pair is likely to find support around 0.7150 handle and resistance above 0.7250 level. Later today, in the US session, Durable Goods Orders and Unemployment Claims figures ae scheduled for a release.

More in this category: « Crude Oil Inventories decreased by 4.2 million barrels UK GDP rose by 0.4% »

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