Two reports this morning surprised investors with seemingly out of place optimism in the private expenditures sector of the Australian economy. At 2:30 GMT the Australian Bureau of Statistics issued two indicators that demonstrated a solid uptick in retail sales and private capital expenditures.
The retail sales report was anticipated to see sluggish growth near 0.3%, but surprised traders with a relatively stronger 0.5% reading. Private capital expenditures, which report the quarterly change in new capital investment by private firms, revealed a healthy 4.9% growth in the second quarter. The figure was down from the first quarter’s reading of 7.7%, but well above the forecast 4.1%, making it bullish yet ominous.
Read more forex trading news on our forex blog.
Other relevant articles you may like
Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
