Aussie Falls As Australia Capex Tumbles

The Australian dollar weakened against the other major currencies in the Asian session on Thursday, after data showed that the nation's private capital expenditure was down on quarter in the first quarter of 2015.

Data from Australian Bureau of Statistics showed that private capital expenditure in Australia was down a seasonally adjusted 4.4 percent on quarter in the first quarter of 2015, coming in at A$35.895 billion. That missed expectations for a decline of 2.2 percent, which would have been unchanged from the previous three months.

On a yearly basis, private capital expenditure was down 5.3 percent.

The Australian dollar fell to more than a 2-week low of 0.9567 against the Canadian dollar and a 2-day low of 95.06 against the yen, from an early 8-day high of 0.9659 and a 9-day high of 95.99, respectively.

Against the U.S. dollar and the euro, the aussie dropped to more than a 5-week low of 0.7685 and a 6-day low of 1.4195 from yesterday's closing quotes of 0.7719 and 1.4106, respectively.

Pulling away from an early high of 1.0684 against the NZ dollar, the aussie edged down to 1.0621.

If the aussie extends its downtrend, it is likely to find support around 0.94 against the loonie, 93.50 against the yen, 0.75 against the greenback, 1.44 against the euro and 1.03 against the kiwi.