The Australian dollar is moderately lower on Monday as it was still affected by weak business investment outlook.
Based on official data, capital expenditure figures showed non-mining firms are planning to cut their spending over the coming financial year.
The Aussie traded at 69.57 euro cents from Friday’s 70.02 euro cents, and 76.39 US cents from 76.53 cents.
Disappointing figures pulled the Australian dollar down… it has wind down “the six-week uptrend over the past two weeks,” said Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman.
Meanwhile, the Australian Bureau of Statistics will release today building approvals data for April and business indicators for the 1st quarter.
The material has been provided by InstaForex Company – www.instaforex.com