AUD/USD recovers to 0.7150 on strong Q1 business investment
The Australian Dollar rebounded on Thursday, helped by a surprise Q1 business investment print of 6.5% quarter-on-quarter.
The result exceeded the 1.0% consensus, driven by equipment, plant, and machine investments.
The US Personal Consumption Expenditures release also had a muted impact, with the core PCE printing at 3.3% year-on-year, matching consensus.
The market reaction was subdued, with stocks and risk assets barely moving, as traders await the next jobs print to re-price the curve.