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Building Approvals up by 7.5%

Thursday, Jan 08 2015
The seasonally adjusted estimate for Building approved rose 7.5% in November and has risen for two months. Analysts were forecasting 2.7% decrease. Private sector houses fell 0.3% in November and have fallen for three months, while private sector dwellings excluding houses rose 16.7% and have risen for two months. 
 
The value of total building approved rose 19.6% in November and has risen for two months. The value of residential building rose 15.3% and has risen for two months. The value of non-residential building rose 29.7% following a fall of 13.1% in the previous month.
 
Data had positive impact on Aussie which is currently being traded slightly above 0.81 handle. Pair is likely to find support around 0.8050 area and resistance above 0.8130 level. Later today, in the US session Unemployment Claims figures are scheduled for a release.
More in this category: « Fed unlikely to raise interest rates before mid-2015 UK house prices rose by 0.9% in December »

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