Private New Capital Expenditure q/q comes in at -3.6% against 0.7% consensus
| Pair | Now | Since publish |
|---|---|---|
| AUDUSD | — | — |
Australia’s Private New Capital Expenditure for the quarter came in at -3.6%, significantly below the market consensus of 0.7%. This represents a -614.3% surprise against expectations. The figure also marks a sharp decline from the previous quarter’s 6.5%.
Following the release, the Australian dollar showed varied movement against major pairs over the first 15 minutes. AUDCAD moved -4.9 pips, AUDCHF -2.1 pips, AUDJPY -0.9 pips, AUDNZD +0.3 pips, and AUDUSD -3.3 pips. EURAUD moved +6.9 pips, and GBPAUD moved +7.0 pips. These initial movements are generally smaller when compared to the typical median 1-hour moves observed after past releases, such as 5 pips for AUDCAD, 4 pips for AUDCHF, 7 pips for AUDJPY, 5 pips for AUDNZD, 6 pips for AUDUSD, 9 pips for EURAUD, and 8 pips for GBPAUD.