Analysts at TD Securities note that Australia’s building approvals jump +6.4% in June.
Key Quotes
“Besides the apartment boom, there was a decent rebound in houses at +5%. Credit growth at +0.3%/m for June brought no surprises. Housing +0.3%/m and business at +0.3%/m.”
“AUDNZD the winner, popping past 1.088 as AUD buoyed by approvals while business sentiment sunk the NZD.”