Australian business investment fell by 4.4 per cent in the March quarter, worst than economists’ forecasts of a 2.4 per cent fall. The closely-watched figures, released by the Australian Bureau of Statistics, cover investment in capital goods which includes such things as buildings and equipment. Businesses collectively expect to invest $149.946 billion on capital goods …
AUD/USD Drops Below 0.77 as Australian Capex Falls 4.4% Read More »
The Reserve Bank of Australia (RBA) left open the possibility it might cut interest rates further, minutes from its May 5 meeting showed, triggering a slump in the Australian dollar on Tuesday. In the minutes from the meeting that saw the RBA cut rates to a record low of 2 percent, the central bank acknowledged …
Since the RBA cut the official cash rate back to a record low of 2% last Tuesday, the Australian dollar (AUD/USD) has enjoyed quite a surge higher. The AUD/USD has rallied strongly over the last couple of days from below 0.80 to a new three month high above 0.8150 in recent hours. This is of …
The Reserve Bank of Australia has lowered its growth and inflation estimates for 2015 and 2016, saying the economy will continue to grow at a subpar rate for a longer than expected period. In its 70-page quarterly monetary policy report, the RBA narrowed its growth forecast for 2015 to 2.5 percent versus 2.25-3.25 percent previously …
AUD/USD Eases Below 0.79 as RBA Lowers Growth Forecasts Read More »
