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Aussie reaches 3-week high after business investment data

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.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.