Investors are awaiting the release of capital expenditure figures to sneak a peak into the future direction of the Australian economy, the AUD/USD and gold.
Key Takeaways:
Private capital expenditure QoQ release scheduled for February 27 at 19:30 EST. Analysts forecast the figure as -1.3%, a decline over the 3.6% of the previous quarter. Traders can gain exposure to the release through the AUD/USD, with a better than expected figure boosting the pair, perhaps through range resistance at 0.9060. Gold is also an option. With the precious metal currently trading at resistance that could be broken if a better than expected figure is released. The chart below outlines the durection AUD/USD has taken.
Written by Daniel Elo, Independent Analyst at EconomicCalendar.com