Private capital spending data decreased by 2.8% in the fourth quarter, compared to an expected rise of 0.4%. The risk aversion prevailed, although this Thursday, there was speculation that the US Federal Reserve will be forced to cut interest rates on the back of the increased chaos of the Corona virus. Australia will release private sector credit data for January this Friday, which is expected to come in at 0.2% on a monthly basis, unchanged from the previous estimate.
Technical analysis
The Aussie pair continued against the dollar, going down the 150 level to reach our second target at the 180th corner and the price 0.6511, and the pair could find some support above 0.6427, but the outlook remains for more declines to trade below 0.6620.
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