The Australian Share Market has seen a few profits taken in the morning session with Wall Street little changed overnight the market focused on a sea of...

The Australian Share Market has seen a few profits taken in the morning session with Wall Street little changed overnight the market focused on a sea of company reports while the market was a little cautious ahead of the private capital expenditure data that were released at 11:30am which should have an influence on any interest movements by the RBA next week. Private Capital Expenditure data coming well below expectations. Fourth Quarter Capex coming in at -2.2% vs expectations of -1.6%. The Australian dollar dropping off the back of the data. This is a very important piece of data and does give the RBA further ammunition to cut rates again next Tuesday. The data adding to other negative elements such as growing unemployment, low wage growth, low inflation, ending mining cycle and slowing trading partners to what Quay believes will lead to back to back cuts next Tuesday. Market Turnover into lunch was very strong at $2.183 billion. For the rest of the wrap please visit (VIEW LINK)


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