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Australian Building Approvals surprisingly rose in October

Tuesday, Dec 01 2015
The trend estimate for total dwellings approved fell 0.6% in October and has fallen for seven months. The seasonally adjusted estimate for total dwellings approved rose 3.9% in October and has risen for two months. Analysts were predicting 2.4% decline. The trend estimate for private sector houses approved fell 0.5%, while private sector dwellings excluding houses fell 0.8% in October and has fallen for seven months.
Separate report showed that the current account deficit, seasonally adjusted, decreased $2,402m (12%) to $18,104m in the September quarter 2015. Larger decrease to $16,600m was expected. The deficit on the balance of goods and services decreased $3,508m (32%) to $7,438m. The primary income deficit increased $1,106m (12%) to $10,054m.
 
Aussie is currently being traded around 0.7260 area. Pair is likely to find support around 0.72 handle and resistance above 0.7280 level. Later today, in the US session, Manufacturing PMI figures are scheduled for a release.
More in this category: « Chicago PMI fell to 48.7 points in October China's official Manufacturing PMI at the lowest level since August 2012 »

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