Recent reports on Australian building approvals and completed construction projects caused a 10-base point gain in AUD/USD. The Aussie strengthened against its American counterpart by 0.13% to continue growth above the 0.7961 mark.
The Australian Bureau of Statistics revealed that the number of building approvals in the country dropped a seasonally adjusted 1.7% over the course of July, beating expectations for a 5.4% decline in the reported period. Meanwhile, the value of construction projects completed rose 9.3% in the same period. However, the report marked the renewed weakness fuelled by tight lending conditions and the Reserve Bank of Australia's notices about the rising housing debt.
Historical Data Table : Building Approvals
Date
04.04.2017
02.05.2017
06.06.2017
04.07.2017
01.08.2017
Actual
-13.4%
4.4%
-5.6%
10.9%
-1.7%
Forecast
-3.9%
3.2%
-1.2%
1.2%
-5.4%
Initial Reaction on Main Pairs
Open Price
Close Price
% Change
AUD/JPY
87.422
87.557
0.15%
AUD/USD
0.79611
0.79713
0.13%
EUR/AUD
1.50436
1.50232
-0.14%
GBP/AUD
1.6238
1.62116
-0.16%
Actual Topics
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