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27 Nov 2014
AUD/JPY reclaims 100.50 on improved AU capex
FXStreet (Bali) - AUD/JPY is attempting to recoup some of its recent losses after a much better-than-expected Australian Capex release, allowing the pair to re-claim 100.50 following a decline to 99.90 during Europe.
Australia's Q3 new capital expenditure stood at +0.2% QoQ s/adj vs Reuters poll -1.5%, with the latest estimate 2014/15 capex a$153.2 bln (earlier estimate a$145.2 bln according to Reuters). Australia's Q3 building capex came at -1.9% QoQ, s/adj, while Q3 plant/machinery capex was +4.4% QoQ s/adj.
Technically, AUD/JPY needs to regain the 100.80/101.00 area to restore technicals to a more constructive stance, with failure to do so still seen as a sign of AUD weakness, which may prompt further enthusiasm to sell the still overstretched daily bull run. On the downside, 100.00 will be the focus again.
Australia's Q3 new capital expenditure stood at +0.2% QoQ s/adj vs Reuters poll -1.5%, with the latest estimate 2014/15 capex a$153.2 bln (earlier estimate a$145.2 bln according to Reuters). Australia's Q3 building capex came at -1.9% QoQ, s/adj, while Q3 plant/machinery capex was +4.4% QoQ s/adj.
Technically, AUD/JPY needs to regain the 100.80/101.00 area to restore technicals to a more constructive stance, with failure to do so still seen as a sign of AUD weakness, which may prompt further enthusiasm to sell the still overstretched daily bull run. On the downside, 100.00 will be the focus again.