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Australian Building Approvals fell by 12.7%

Thursday, Jan 07 2016
Australian Bureau of Statistics (ABS) Building Approvals show that the number of dwellings approved fell 1.9% in November 2015, in trend terms, and has fallen for eight consecutive months. In seasonally adjusted terms approvals fell by 12.7%, missing forecasts on 2.8% decline. The value of total building approved fell 0.8% in November, in trend terms, and has fallen for four consecutive months. The value of residential building fell 1.2% while non-residential building was flat.
 Separate report showed that in trend terms, the balance on goods and services was a deficit of $2,953m in November 2015, an increase of $172m (6%) on the deficit in October 2015. In seasonally adjusted terms, the balance on goods and services was a deficit of $2,906m in November 2015, a decrease of $341m (11%) on the deficit in October 2015. This was below expected deficit of $2,980m. Goods and services credits rose $160m (1%) to $26,764m,while debits fell $182m (1%) to $29,670m.
 
Aussie is currently being traded around 0.7030 area. Pair is likely to find support around 0.70 handle and resistance above 0.7070 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
More in this category: « FOMC Minutes showed that there are still inflation concerns UK house price 1.6% higher in Q4 »

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