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A Big Miss For the AUD/USD: Building Approvals

For those that don’t follow the Australian economy closely, we’ve seen a big housing boom. That is now well and truly over and there are many calling for a crash.

Real estate is a big part of the Australian economy and wealth in general. Tighter lending standards are really hurting home prices and the follow through is on building and construction also.

Today we saw a big miss in building approvals at -9.4% MoM. A really bad result.

On the news, the AUD/USD is down 0.3%. Don’t underestimate the impact this might have going forward.

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Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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