This data does not usually have an immediate forex impact

January -0.24% m/m

  • prior +0.21%, revised from +0.27%

Via Westpac:

This is a full reversal of the strong 0.7ppt jump we saw last month. Most of the volatility in the Index over the last two months can be explained by dwelling approvals. After contributing 0.33ppts to growth in December, approvals fell sharply in January to subtract 0.21ppts points from growth.

Nevertheless the Index is still registering a comfortably above trend reading and, following the solid results in October and November, points to above trend growth in the early part of 2018.


Focus is on data still to come from Australia today: