The post Australian Dollar maintains position after the release of Private Capital Expenditure appeared on BitcoinEthereumNews.com.

The Australian Dollar receives support from the stronger Private Capital Expenditure on Thursday. Australia’s total new capital expenditure unexpectedly increased by 1.1% QoQ in Q3, exceeding the expected 0.9% increase. The AUD/USD pair may struggle as the US is set to introduce further AI chip sanctions against China on Monday. The Australian Dollar (AUD) holds steady against the US Dollar (USD) following the release of stronger-than-expected Private Capital Expenditure on Thursday. Australia’s total new capital expenditure rose by 1.1% quarter-on-quarter in the third quarter, surpassing market expectations of a 0.9% increase and rebounding from a 2.2% decline in the previous quarter. However, the AUD/USD pair may face downward pressure as the United States (US) is set to unveil additional measures on Monday aimed at curbing China’s ability to advance in artificial intelligence technology. Given the close trade ties between Australia and China, any significant shifts in China’s economy are likely to ripple through Australian markets. Additionally, the Australian Dollar faced challenges due to dampened market sentiment following President-elect Donald Trump’s announcement of a 10% increase in tariffs on all Chinese goods entering the United States. The downside of the AUD was restrained due to the Reserve Bank of Australia’s (RBA) hawkish outlook on future interest rate decisions. Australia’s monthly Consumer Price Index (CPI) rose by 2.1% year-over-year in October, unchanged from the previous month but below market expectations of 2.3%. This marked the lowest inflation rate since July 2021 and remained within the central bank’s target range of 2-3% for the third consecutive month. Australian Dollar holds ground as the US Dollar faces challenges due to monthly flows The US Dollar struggles due to monthly flows and reduced trading activity due to the Thanksgiving holiday. However, the USD’s decline may be capped, as the Federal Reserve (Fed) is likely to…

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Filed under: News - @ November 28, 2024 2:18 am