European Stocks Flat as Oil Prices Rise, US CPI in Focus 
Iran War Escalates as US, Houthis Target Ships Near Key Oil Routes 
England Drought Expands to 71% as Heatwave Deepens Water Crisis 
Yen Stabilizes After Intervention Slide as Australian Dollar Hits Eight-Week High 
Australia Sets New Minimum Pay, Insurance Rules for Gig Workers 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
Goldman Sachs Sees US Stock Buybacks Outpacing Equity Issuance as AI Funding Rises 
Gold Price Holds Near $4,400 as Hormuz Risks and CPI Drive Markets 
Singapore Raises 2026 GDP Growth Forecast as AI Demand Fuels Economy 
U.S. Stock Futures Flat Ahead of July CPI Data 
Asian Currencies Steady as Markets Await U.S. Inflation Data 
Australia’s Capex fell slightly in Q3, although this was somewhat tempered by the upgrade to the Q2 result, from -2.5 percent q/q to -0.9 percent q/q. Further, outside of the weakness in construction, the details of the report were positive.
In even better news, the outlook for 2018-19 was revised materially higher. This is important because this release is where firms’ forecasts traditionally become much more accurate.
Non-mining firms now expect their investment to increase 7 percent over the current financial year, which is a much better outcome than the 2 percent growth forecast three months ago.
Even the mining sector is slowly turning around. Gas and oil investment fell a further 8 percent in Q3, likely driven by the Ichthys project fast approaching completion. But iron ore investment rose again, with spending in Q3 more than 50 percent above the Q2 2017 trough.
"Further, mining firms expect investment to fall by just 1 percent in 2018-19, which would be the best result since 2012-13," ANZ Research commented in its latest report.
