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Building Approvals fell by 3.3%

Tuesday, Feb 03 2015
The seasonally adjusted estimate for total dwellings approved fell 3.3% in December after rising for two months. Analysts were predicting decline by 4.8%.The seasonally adjusted estimate of the value of total building approved fell 14.7% in December after rising for two months. The value of residential building fell 10.9% after rising for two months. The value of non-residential building fell 22.7% following a rise of 29.1% in the previous month. 
 
Separate report on Trade Balance showed that in seasonally adjusted terms, the balance on goods and services was a deficit of $436m in December 2014, a decrease of $580m (57%) on the deficit in November 2014, and above market forecasts on deficit of $850m. Goods and services credits rose $374m (1%) to $27,243m, while goods and services debits fell $206m (1%) to $27,680m. 
 
However, data did not have any major impact on the markets which were awaiting for RBA interest rate decision after which Aussie was pushed sharply down and is currently being traded around 0.7660 area. There will be no major data releases in the rest of the session.
More in this category: « US Manufacturing PMI at a one-year low Aussie sharply dowm0n after RBA surprising rate cut »

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