The Capex data was weaker than expected for Q4 2014. That was a bit of a shock for markets.
It was the huge drop in the first estimate for the 2015-16 financial year to just $109.8 billion, the lowest initial estimate in 5 years, which attracted the attention of Aussie dollar traders.
AUDUSD is now back below 0.7850 after briefly touching 79 cents last night. There is a real chance now that with this data pointing to more RBA rate cuts offshore sellers will join the fray as the day progresses and they get to their desks.
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