Intraday Market Thoughts

CAD Takes BoC Breather, Aussie Awaits Capex

by Ashraf Laidi
May 29, 2013 20:27

Aussie traders await tonight's report on April CAPEX figures (21:30 ET, 02:30 GMT) expected +0.5% from -1.2%, for the next juncture in the latest damage. Markets will also keep an eye on the 2013-14 investment plans. MNI consensus expects $A154 bn. Drifting below 200-WMA and 55-month MA (MMA), AUDUSD will show the difference between a consolidative bounce and a preparing for the next leg-down. We updated our Premium trades in AUDUSD (see below). Today's BoC policy statement reiterated its forecast for +2% inflation as Governor Carney served his final policy meeting before he is steps aside next month. We added 1 new short in GBPUSD, 2 new trades in USDCAD (ahead of Friday's GDP) and edited the target on the 1 of 2 trades in EURJPY Full trades seen in the Latest Premium Insights table.

Act Exp Prev GMT
GDP Annualized (Q1)
2.5% 0.4% May 30 12:30
GDP Price Index (Q1)
1.2% 1.0% May 30 12:30

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