Building Approvals unexpectedly rose in April

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Tuesday, May 31 2016

The trend estimate for total dwellings approved rose 1.2% in April and has risen for five months. The seasonally adjusted estimate for total dwellings approved rose 3.0% in April and has risen for two months. Analysts were anticipating fall by 3.1%. The seasonally adjusted estimate of the value of total building approved rose 18.3% in April following a fall of 4.3% in the previous month. The value of residential building rose 8.4% and has risen for three months. The value of non-residential building rose 47.3% after falling for four months.

Separate report showed that the current account deficit, seasonally adjusted, decreased $1,837m (8%) to $20,794m in the March quarter 2016. The deficit on the balance of goods and services decreased $2,824m (26%) to $8,114m. The primary income deficit increased $979m (9%) to $12,084m. In seasonally adjusted chain volume terms, the surplus on goods and services increased $4,731m (60%) from $7,880m in the December quarter 2015 to $12,611m in the March quarter 2016.

Aussie is currently being traded few points above 0.7240 level. Pair is likely to find support around 0.72 handle and resistance above 0.7280 level. Later today, in the US session, CB Consumer Confidence figures are scheduled for a release.

More in this category: « German CPI rose by 0.3% Number of unemployed in Germany decreased by 11,000 »

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