UBS - "How fast is Australia’s mining investment boom set to recede? And are the non- mining sectors of the economy ready to step into the breach? On Thursday February 28th we should get answers to both questions when the capex survey is published. It is arguably Australia’s most important data release for all of this year and we believe the outcome to be pivotal for the Australian dollar. (...) Beware of downside risks, though − if the survey shows spending intentions closer to A$130 bn then another RBA rate cut probably beckons. In that risk case, AUDUSD would likely approach our 3m forecast of 1.00 well ahead of schedule."
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