Australia’s Crucial Capex Survey
Sentiment has become bearish on the Australian dollar. According to UBS FX Flows, selling by asset managers last week was the second largest on record. But the currency still remains at historically high levels just under parity against the US dollar. The Federal Reserve and other major central banks continue to expand their balance sheets through quantitative easing while the Reserve Bank of Australia, even after this month’s 25bps cut, still has the highest benchmark interest rate amongst advanced economies at 2.75%.
Click here to read the full report: UBS