Australian April building permits -5.7% m/m (expected +3.1%)

Australian April building permits

-5.7% m/m

• expected +3.1%, prior -8.8%

% y/y

• prior +13.4%

The recent rate cut from the RBA should be supportive of the building sector ahead. Given this data there is room for improvement!

AUD is a little lower, the retail sales data out at the same time was disappointing also.

This article was written by Eamonn Sheridan at www.forexlive.com.