At 0030GMT we get two sets of data from Australia; Building Approvals for October and Q3 Current Account.

October Building Approvals MoM:

  • Prior result for September was +7.8% MoM (12.4% YoY)
  • Expectations are for -1.6% (20.2% YoY)
  • Building Approvals are normally an important focus for the mkt as providing indications for RBA actions. Today’s rate cut is now being seen as a done deal, so there is not quite the intensity of focus on this number. Any outlier might be a nice cat amongst the pigeons though.

& Q3 Current Account Balance:

  • Q2 deficit was 11.8B
  • Mkt expects a deficit of 14.55B for Q3