Building Approvals declined by 4.4% in April

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Monday, Jun 01 2015

The seasonally adjusted estimate for total dwellings approved fell 4.4% in April followinga rise of 2.9% in the previous month. Analysts were predicting a smaller decrease by 1.7%. Private sector houses rose 4.7% in April and had risen for four months, while private sector dwellings excluding houses fell 15.0% in April following a rise of 4.5% in the previous month.

The seasonally adjusted estimate of the value of total building approved fell 4.1% in April following a rise of 4.8% in the previous month. The value of residential building fell 3.5% following a rise of 4.7% in the previous month. The value of non-residential building fell5.4% following a rise of 4.9% in the previous month.

After the figures, Aussie fell slightly, but found support around 0.7639 area in order to rebound and is currently being traded few points above 0.7650 area. Pair is likely to find support around 0.76 and resistance above 0.77 handle. Later today, in the US session, Manufacturing PMI figures are scheduled for a release.

More in this category: « China's Manufacturing PMI slightly up, Services PMI down Euro down despite positive Manufacturing PMI figures »

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