28th August 2014
The Australian dollar has climbed to a three-week high versus its US counterpart in forex trading markets today (August 28th), following the release of unexpectedly positive business investment data.
According to official figures, Australia's second-quarter capital expenditure was up by 1.1 per cent quarter on quarter. This compares to expectations for a 0.3 per cent decline and is the first advance since the third quarter of 2013.
Since the start of the month, the Aussie has advanced by 0.7 per cent versus the greenback, making it second only to the Norwegian krone in terms of G10 currency performances.
Demand for the US dollar has been subdued ahead of a Commerce Department report later in the session, which is expected to show the country's gross domestic product expanded by 3.9 per cent in the second quarter, just below the initial four per cent estimate.
Early in the European trading session, the Aussie climbed to $0.9372 - its strongest since August 6th.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.