The AUD/USD pair slid under the 0.9000 zone once again after Australia posted disappointing Private Capital Expenditure (Capex) data. While analysts expected it to remain flat from the previous 2.6% growth, Australia’s Capex instead contracted by 5.2%.
Other specific figures released were for mining investment, which fell by 5.5% compared to the previous quarter; manufacturing sector investment that contracted by 7.0% during the same period; and then other select industries also fell by 4.4% in Q4.
All the released data then brought down the AUD/USD pair to the 0.8920 area after opening just above 0.8960. However, it made a recovery at the 0.8940 area after the initial shock of the report subsided. It is currently trading at 0.8936, with initial resistance seen at 0.8997, followed by 0.9019. Meanwhile, initial support is at 0.8912, followed by 0.8889.
As for the USD/JPY, the pair continues to hold a narrow range within the 102.00 area. There wasn’t much of a difference today, although the pair initially fell during the opening of the Asian session due to the weak performance of the Nikkei. However, the pair has made slight gains over the past few hours and broke through the 102.40 area today. Some movement may be expected when the United States releases its Durable Goods Orders and Jobless Claims figures later (1:30PM GMT). The pair is currently trading at 102.43, with initial resistance seen at 102.76, followed by 103.02. Meanwhile, initial support is at 102.23, followed by 101.97.
A number of important events are set to happen in Europe later, so it’s also worth looking into the EUR/USD pair’s performance at the moment. The pair opened at a decent 1.3861, and managed to peak at the 1.3695 area in today’s Asian session. However, expect more movement later today when the likes of Germany and Switzerland release their respective economic data. The pair is currently trading at 1.3687, with initial resistance seen at 1.3722, followed by 1.3756. Meanwhile, initial support is at 1.3626, followed by 1.3592.
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