The trend estimate for total dwellings approved fell 0.6% in March. The seasonally adjusted estimate for total dwellings approved fell 15.5% in March. PRIVATE SECTOR HOUSES The trend estimate for private sector houses approved fell 1.4% in March. The seasonally adjusted estimate for private sector houses fell 3.2% in March. PRIVATE SECTOR DWELLINGS EXCLUDING HOUSES The trend estimate for private sector dwellings excluding houses rose 0.8% in March. The seasonally adjusted estimate for private sector dwellings excluding houses fell 30.6% in March. VALUE OF BUILDING APPROVED The trend estimate of the value of total ... (full story)

The AUD/USD pair fell to a four-month low of 0.685 soon before press time in response to a weaker-than-expected Aussie housing data. Australia's Building Permits fell 15.5% month-on-month in March, reversing the 19.1% gain seen in February. The markets were expecting a 14% drop. The approvals fell 27.3% in annualized terms, having dropped 12.5% in the preceding month. The slide in the building permits will likely boost expectations of an RBA rate cut next week. The central bank has, in recent months, signaled a willingness to cut rates, if required. Most investment banks are of the opinion that the weakness in the ... (full story)