29 May 2014
AUD/USD in highs near 0.9300
FXStreet (Edinburgh) - The Aussie dollar is the G10 best performing currency so far, lifting the AUD/USD to the high 0.9200s from the 0.9210 area.
AUD/USD boosted by CapEx
The AUD saw a jump to the boundaries of the critical barrier at 0.9300 after the Private Capital Expenditures contracted 4.2% during the first quarter vs. -1.5% expected and bettering the previous 4.5% contraction. “Overall this survey was down 12.0% from a year earlier. Investment in mining was down 21.2%y/y and in manufacturing down 17.8%y/y. The good news is that "other selected industries" was up 9.5%y/y. This sector is over 5 times larger than manufacturing, and about half as big as mining. As such, it is the key non-mining sector”. Further data showed that New Home Sales gauged by HIA rose 2.9% inter-month in April, surpassing March’s 0.2% advance. All in all, spot managed to regain the upper band of the 0.9200s and print fresh weekly highs.
AUD/USD key levels
As of writing the pair is up 0.55% at 0.9287 with the next resistance at 0.9300 (psychological level). On the flip side, a breakdown of 0.9214 (low May 28) would open the door to 0.9208 (low May 21) and finally 0.9176 (200-d MA).
AUD/USD boosted by CapEx
The AUD saw a jump to the boundaries of the critical barrier at 0.9300 after the Private Capital Expenditures contracted 4.2% during the first quarter vs. -1.5% expected and bettering the previous 4.5% contraction. “Overall this survey was down 12.0% from a year earlier. Investment in mining was down 21.2%y/y and in manufacturing down 17.8%y/y. The good news is that "other selected industries" was up 9.5%y/y. This sector is over 5 times larger than manufacturing, and about half as big as mining. As such, it is the key non-mining sector”. Further data showed that New Home Sales gauged by HIA rose 2.9% inter-month in April, surpassing March’s 0.2% advance. All in all, spot managed to regain the upper band of the 0.9200s and print fresh weekly highs.
AUD/USD key levels
As of writing the pair is up 0.55% at 0.9287 with the next resistance at 0.9300 (psychological level). On the flip side, a breakdown of 0.9214 (low May 28) would open the door to 0.9208 (low May 21) and finally 0.9176 (200-d MA).