Australian April building permits
-5.7% m/m
- expected +3.1%, prior -8.8%
- houses +3.1%
- multi-unit -19.0% (apartments etc)
The recent rate cut from the RBA should be supportive of the building sector ahead. Given this data there is room for improvement!
AUD is a little lower, the retail sales data out at the same time was disappointing also.
This article was written by Eamonn Sheridan at www.forexlive.com.