Australian Buildings Approvals measures the change in the number of new building approvals issued. It is one of the most important indicators of the construction sector. A reading that is higher than the market prediction is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Thursday at 00:30 GMT. Indicator Background An increase in building approvals indicates an expansion of construction activity, which in turn is a critical component of economic growth. Conversely, negative readings indicate a contraction in building activity. The indicator is a market-mover which can affect the movement of AUD/USD. Building Approvals tends to fluctuate sharply, making accurate forecasts a tricky task. The indicator declined 4.7% in the previous release, well off the estimate of -0.7%. The markets are expecting a much better result this time around, with an estimate of a 2.9% gain. Will the indicator meet or beat the estimate? Sentiments and levels US releases continue to disappoint, but the Australian dollar has been unable to to take advantage. Earlier in the week, the RBA warned that the Aussie is overvalued, and the currency lost ground as a result. The Australian dollar has been pointing downwards all week, and this trend could continue. Thus, the overall sentiment is bearish on AUD/USD towards this release. Technical levels, from top to bottom: 0.9751, 0.9670, 0.9556, 0.9428, 0.9283 and 0.9180. 5 Scenarios Within expectations: 1.0% to 5.0%: In such a case, the Australian dollar is likely to rise within range, with a small chance of breaking higher. Above expectations: 5.1% to 8.0%: An unexpected higher reading can send AUD/USD well above one resistance line. Well above expectations: Above 8.0%: Such an outcome would prop up the pair, and a second resistance line might be broken as a result. Below expectations: -2.0% to 0.9%: A sharper decrease than forecast could cause the Aussie to break below one level of support. Well below expectations: Below -2.0%: In this scenario, AUD/USD would likely drop, possibly breaking a second resistance level. For more about the Aussie, see the AUD to USD forecast. To follow this event live: [do action=”calendar-event” eventid=”ef388cf2-f3d8-47a4-a39a-70e6e4fdc00b”/] Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next Fed in focus FxPro - Forex Broker 9 years Australian Buildings Approvals measures the change in the number of new building approvals issued. It is one of the most important indicators of the construction sector. A reading that is higher than the market prediction is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Thursday at 00:30 GMT. Indicator Background An increase in building approvals indicates an expansion of construction activity, which in turn is a critical component of economic growth. Conversely, negative readings indicate a contraction in building activity. The indicator is a market-mover which can affect the movement… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.