Article in the Australian Financial Review: Aussie dollar rises after capex data (gated)
the currency recovered, climbing as high as $US1.0286 just before 2pm, as the market moved its focus away from the previous quarter and towards the stronger than expected investment outlook in financial year 2013-14
Westpac chief economist Bill Evans :“The RBA will view this survey as indicating surprising weakness in 2012-13 but pointing to an encouraging outlook for 2013-14,” Mr Evans said. “Such an outlook will not justify a rate cut on March 5.”
The futures market imply a March 5rate cut at only around an 18% probability today.
