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Building Approvals fell by 3.2% in February

Wednesday, Apr 01 2015
Building Approvals fell by 3.2% in February, beating market forecasts on 3.8% decline. This was the first fall after rising for four months. The seasonally adjusted estimate for private sector houses fell 0.1% in February after being flat in January, while the estimate for private sector dwellings excluding houses fell 6.0% in February following a rise of 15.0% in the previous month. 
 
The seasonally adjusted estimate of the value of total building approved fell 19.5% in February following a rise of 20.1% in the previous month. The value of residential building fell 4.3% following a rise of 10.3% in the previous month. The value of non-residential building fell 44.0% following a rise of 40.3% in the previous month.
 
Data did not have major impact on the Aussie, which was pushed higher this morning by better than forecasted China's Manufacturing PMI data. Pair is currently being traded around 0.7630 area and is likely to find support around 0.76 handle and resistance above 0.7670 level. Later today, in the US session, ADP job figures and Manufacturing PMI data is scheduled for a release.
More in this category: « CB Consumer Confidence rose to 101.3 China's Manufacturing PMI data beats market expectations »

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