Australia capital expenditures for Q2 -2.2% versus 1.0% expected

• Prior quarter 1.0%
• Australia’s capital expenditures for Q2 -2.2% versus 1.0% estimate. That equaled the largest decline since a similar fall in Q3 2021.
• Building capital expenditures -3.8 versus -0.9% last quarter. The decline was was the worst since Q2 2020.
• Plant/machinery capital expenditures -0.5% versus +3.3% last quarter

The ANZ business Outlook data was strong for NZ. This is the opposite for Australia.

The AUDUSD which briefly moved above the 0.6800 area for the 2nd consecutive day, has reversed marginally below the level after the data and trades at 0.6794.

This article was written by Greg Michalowski at www.forexlive.com.