Fed Meeting Sparks Division as Markets Brace for Possible Rate Cut 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
U.S. Stocks End Week Higher as Markets Anticipate Fed Rate Cut 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Australia’s private new capex contracted for a second consecutive quarter in Q2, as a rise in machinery and equipment was more than offset by a drop in buildings and structures. It wasn’t all bad news, though, with mining recording its strongest quarterly result in five years, according to a report from ANZ Research.
Furthermore, businesses upgraded their 2019-20 capex intentions by more than anticipated, planning an annual increase of 10.7 percent.
Mining recorded its strongest quarterly capex growth in five years of 1.7 percent q/q and manufacturing bounced back from two quarters of decline, posting an 8.5 percent rise.
For 2019-20, capex plans were upgraded to AUD113 billion in Q2 from AUD99 billion in Q1. Part of this reflects the fact that businesses almost always upgrade their intentions at this time as the current financial year is underway.
Meanwhile, both non-mining (+6 percent) and mining firms (+20 percent) are planning stronger investment during 2019-20. Coal and iron ore investment continues to build while oil and gas capex is expected to bottom out soon, the report added.
