# AUD/USD keeps gains after Australia's Capex data — Octa

> The Australian dollar held gains against the USD after the ABS reported that total new capital expenditure fell 1.6% in the March quarter 2020, following a 2.6% fall in the December quarter. Forward-looking 2020/21 capex estimates were also weak, with the second estimate down 7.9% year on year. Stock gains and supportive comments from RBA Governor Lowe kept AUD/USD near 0.6630.

- Date: 2020-05-28 · published 2020-05-28T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/53411-aud-usd-keeps-gains-after-australia-s-capex-data-octa
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Weak capex plans signal lower business investment during the COVID-19 slowdown, which weighs on Australian growth. For feed buyers, the effect is indirect: a firmer AUD modestly lifts Australian export competitiveness pressure on grain and meal pricing.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/824300/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.