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.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.