Economic data due from Australia today

At 0130GMT from Australia:

• August trade balance: expected -400m, prior -765m
• Building Approvals for August m/m: expected -0.5%, prior +10.8%
• Building Approvals for August y/y: expected 12.8%, prior +28.3%

Both the trade balance and building approvals will be keenly watched by the market as early indications to the next RBA meeting. Yesterday’s RBA meeting resulted in no change to the target cash rate.