US pending home sales rises to a 10-year high

Australian private capital expenditure fell 5.20% on a seasonally adjusted basis in the first quarter of 2016, data from the Australian Bureau of Statistics showed on Thursday. In the quarter, capital expenditure was at A$30.613 billion, after rising to a revised 1.80% in the previous quarter. The decline of 5.20% missed analyst expectations of a 3.50% decline. On a yearly basis, capital expenditure was down 15.40%. Capex on building and structures was down 7.90% on the quarter posting an 18.80% decline on the year, while capex on plants, equipment and machinery was down 0.50% on the quarter to 9.20% on a yearly basis. The weaker capex is likely to weigh on the first quarter GDP data which is due for release on June 1st. In the previous quarter, Australia's quarterly GDP increased 0.60% rising to 3.0% on an annualized basis.

Durable goods orders in the month of April increased 3.40% in April, according to the data from the US Commerce Department released on Thursday, beating expectations of a 0.70% increase. The durable goods orders gained as demand for aircrafts increased in the month. Excluding orders for transport, durable goods were up 0.40%, rising above estimates of 0.30%. Previous month's data was also revised higher to 1.90% on the headline and 0.10% on the core. Despite the better than expected data, business investment continued to show signs of weakness with orders in the nondefense capital goods falling 0.80% in the month and down 4.10% on a yearly basis, compared to the same period a year ago.