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28 Nov 2013
AUD/USD sidelined around 0.9130
FXstreet.com (Edinburgh) - Better domestic data boosted the Aussie dollar overnight, sending the AUD/USD from the area of 0.9070 to session highs in the boundaries of 0.9140.
AUD/USD firmer after upbeat Capex
The key Capex indicator in the Australian economy surprised even the most optimist analysts on Thursday, advancing 3.6% during Q3 and up from the previous gains of 1.6% (revised). According to Annette Beacher, Global Strategist at TD Securities, “Notably, services, a key component in non-mining investment picked up to a +3% from a previous fall of -3%, lifting total capex expectations for 2013/14 to -1% from -3%... We also expect the RBA to hold rates at 2.5% and maintain a neutral bias”. Further data showed that the Business Confidence sponsored by ANZ rose 60.5% for the month of November, adding to the pair’s bull run.
AUD/USD key levels
The pair is up 0.45% at 0.9121 and a surpass of 0.9204 (high Nov.26) would expose 0.9249 (high Nov.22) and finally 0.9355 (high Nov.21). On the downside, the initial support lines up at 0.9038 (low Sep.4) ahead of the psychological mark at 0.9000.
AUD/USD firmer after upbeat Capex
The key Capex indicator in the Australian economy surprised even the most optimist analysts on Thursday, advancing 3.6% during Q3 and up from the previous gains of 1.6% (revised). According to Annette Beacher, Global Strategist at TD Securities, “Notably, services, a key component in non-mining investment picked up to a +3% from a previous fall of -3%, lifting total capex expectations for 2013/14 to -1% from -3%... We also expect the RBA to hold rates at 2.5% and maintain a neutral bias”. Further data showed that the Business Confidence sponsored by ANZ rose 60.5% for the month of November, adding to the pair’s bull run.
AUD/USD key levels
The pair is up 0.45% at 0.9121 and a surpass of 0.9204 (high Nov.26) would expose 0.9249 (high Nov.22) and finally 0.9355 (high Nov.21). On the downside, the initial support lines up at 0.9038 (low Sep.4) ahead of the psychological mark at 0.9000.