AUD traders - heads up for data due Tuesday - Building Permits (June) preview

Author: Eamonn Sheridan | Category: News

It is a busy week coming up around the globe, with three central bank meetings:

From Australia we get data during the week:
  • Tuesday brings Building approvals
  • Thursday, trade balance (June)
  • Friday, retail sales (June and Q2)
 A preview of tomorrow release, this via ANZ:
  • We believe building approvals nudged higher in June. This is likely to be driven by a substantial increase in Queensland, after approvals in the state fell by nearly 30% in May. 
  • However, this doesn't change our view that approvals will continue to trend lower from here. 
  • Ongoing tightening in credit availability and weaker housing finance results suggest that building approvals are set for further weakness, regardless of some potential respite in June.




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