Australian Dollar Falls On Disappointing Capex Data

The Australian dollar weakened against the other major currencies in the Asian session on Thursday, after the release of the nation's weaker capital expenditure figures in the third quarter of 2015.

Data from the Australian Bureau of Statistics showed that the total value of private capital expenditure in Australia was down a seasonally adjusted 9.2 percent on quarter in the third quarter of 2015, coming in at A$31.398 billion.

The headline figure was well shy of forecasts for a decline of 2.9 percent following the 4.0 percent contraction in the second quarter.

On a yearly basis, capex tumbled 20.0 percent.

Wednesday, the Australian dollar rose to 0.35 percent against the U.S. dollar, 0.22 percent against the yen, 0.10 percent against the euro and 0.24 percent against the Canadian dollar.

In the Asian trading, the Australian dollar fell to a 6-day low of 1.0979 against the NZ dollar, from yesterday's closing value of 1.1018. The aussie may test support near the 1.08 region.

The aussie dropped to 2-day lows of 1.4717 against the euro and 88.52 against the yen, from yesterday's closing quotes of 1.4648 and 88.97, respectively. If the aussie extends its downtrend, it is likely to find support around 1.50 against the euro and 87.00 against the yen.

Against the U.S. and the Canadian dollars, the aussie slipped to 2-day lows of 0.7217 and 0.9600 from yesterday's closing quotes of 0.7250 and 0.9634, respectively. On the downside, 0.70 against the greenback and 0.94 against the loonie are seen as the next support levels for the aussie.

Looking ahead, Swiss industrial production for the third quarter, Eurozone M3 money supply data for October and German Gfk consumer confidence index for December are due later in the day.

U.S. banks will be closed in observance of Thanksgiving Day holiday.