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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.”