Australian Home Loans rose more than expected

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Tuesday, May 12 2015

Number of Home Loans rose by 1.6% in March, in seasonally adjusted terms, thus beating forecasts on 1.1% incline. Construction of dwellings fell by 1.8%, but the purchase of new dwellings rose by 2.9%, while the purchase of established dwellings increased by 2.0%. In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions rose by 3.5%.

In trend terms, the number of commitments for the purchase of established dwellings rose 0.7%, while the number of commitments for the construction of dwellings fell 1.4%and the number of commitments for the purchase of new dwellings fell 0.1%. In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments fell to 14.7% in March 2015 from 15.1% in February 2015.

After the data Aussie was pushed higher and is currently being traded few points above 0.7930 level. Pair is likely to find support around 0.7870 area and resistance near 0.80 handle. Later today, in the US session, JOLTS Job Openings figures are scheduled for a release, as well as Australian Annual Budget.

More in this category: « Traders cautious in a less eventful Monday's session UK Industrial Production increased by 0.5% in March »

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