Press review - page 219

 
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Dow 30 Futures Technical Analysis | Dow 30 Futures Analysis
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2014-07-31 01:30 GMT (or 03:30 MQ MT5 time) | [AUD - Building Approvals]

if actual > forecast = good for currency (for AUD in our case)

[AUD - Building Approvals] = It's an excellent gauge of future construction activity because obtaining government approval is among the first steps in constructing a new building. Construction is important because it produces a wide-reaching ripple effect - for example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various services are purchased by the builder.

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Australia Building Approvals +16.0% In June

The total number of building approvals issued in Australia climbed a seasonally adjusted 16.0 percent on year in June, the Australian Bureau of Statistics said on Thursday - standing at 15,659.

On a monthly basis, building approvals tumbled 5.0 percent - also missing expectations for a flat reading following the upwardly revised 10.3 percent gain in the previous month (originally 9.9 percent).

Reason: