Q1 capex data for Australia has just been released and with a headline fall of 4.4% and a second estimate for 2015-16 of just $104 billion it’s a shocking number.
Aussie dollar traders have reacted the only way they can, by selling with gusto.
It’s finding some support just below 77 cents at the moment but when Europe enters the fray this afternoon things could get ugly.
Here’s the chart.
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