workingtraders
Short

$AUDUSD - Aussie Q4 capex data giving the aussie dollar a push

FX:AUDUSD   Australian Dollar / U.S. Dollar
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Thoughts JPMorgan:

Numbers look pretty bad
The estimate for 2015-16 was disappointing. It's around $10 billion less than we were calling for. And it's soft across the board
Mining is set to fall further
Manufacturing was revised down again. That's not a surprise, but there's not much sign of a revival in other sectors either
This lack of animal spirits is not what the RBA has been hoping for. It does add to the chance of a rate cut next week, though we think they will hold on to May
The survey was taken before this month's easing and we haven't seen what impact that has had on confidence
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