Japan Producer Prices Surge in May, Strengthening Expectations of BOJ Rate Hike 
Asian Stocks Rebound as AI and Chip Shares Recover; Easing Iran Tensions Boost Sentiment 
Oil Prices Fall Despite Rising U.S.-Iran Tensions as Markets Watch Strait of Hormuz Developments 
China Inflation Misses Forecast as Consumer Spending Stays Weak, Producer Prices Surge 
US Stock Futures Slip as New Iran Strikes Weigh on Market Sentiment Ahead of Inflation Data 
US Dollar Slips Ahead of Key Inflation Data as Middle East Tensions Weigh on Markets 
US Dollar Dips as Middle East Tensions Ease; Markets Await Key US Inflation Data 
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.
