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Australian Building Approvals rose by 11.3%

Tuesday, Aug 30 2016

The trend estimate for total dwellings approved rose 0.2% in July and has risen for eight months. The seasonally adjusted estimate for total dwellings approved rose 11.3% in July after falling for two months. The trend estimate for private sector houses approved fell 0.5% in July and has fallen for five months. The seasonally adjusted estimate for private sector houses fell 0.5% in July and has fallen for two months. The trend estimate for private sector dwellings excluding houses rose 0.9% in July and has risen for eight months. The seasonally adjusted estimate for private sector dwellings excluding houses rose 23.0% in July after falling for two months.

The trend estimate of the value of total building approved rose 1.9% in July and has risen for seven months. The value of residential building rose 0.9% and has risen for eight months. The value of non-residential building rose 3.9% and has risen for five months. The seasonally adjusted estimate of the value of total building approved rose 3.2% in July and has risen for two months. The value of residential building rose 6.2% after falling for two months. The value of non-residential building fell 2.5% following a rise of 16.5% in the previous month.

 

Aussie is currently being traded around 0.7550 area. Pair is likely to find support around 0.75 handle and resistance above 0.76 level.

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