Rise in Australian building approvals tops forecast

Source: Business Insider Australia
© FP
Building approvals in Australia exceeded expectations, as the data release on Tuesday showed a 3.7% jump, topping the 3.1% gain in February. This is an unexpected positive development, as investors had forecast a 3% drop, however, the measure still did not reach last year's levels, remaining 6.5% lower.
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Tue, 03 May 2016 08:05:09 GMT

Aussie drops following RBA rate cut

The Australian Dollar dropped 1.3% after the RBA announced cutting rates to a record low 1.75%. The Aussie hovered around the $0.7700 mark before the announcement, and plunged to $0.7563 right after the news came out at 4:30 GMT. The RBA explains the rate cut with fears of a stronger Australian Dollar that can potentially harm economic adjustment.

Mon, 02 May 2016 14:54:04 GMT

Markit's PMI worsens to 50.8 in US

In the United States, Markit's Purchasing Managers' Index for the manufacturing sector dropped to a score of 50.8 in the fourth month of the year, following March's 51.5 reading and falling behind analysts' forecast of 51.0 points. That's the worst result since September 2009.

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