The Australian dollar enjoyed a relatively good day yesterday, gaining against most currencies – except a strong US dollar.
Yesterday morning we saw excellent construction work data our of Australia, achieving 3% above expected. This coupled with positivity coming from the Governor of the Reserve Bank of Australia’s speech helped strengthen the currency. Private Capital expenditure data released this morning was came out much lower than expected showing a sharp drop to -4% whilst last month’s figure was also revived down to -4.7%.
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