I think overall the news is positive for AUD
Building approvals fell -8.7%, while this was greater than expected, the overall trend for 17 months has been a declining trend
Additionally, in the notes section they state: "The Building Act 2011 came into effect in Western Australia on the 2 April 2012, bringing in significant changes to the building approval process. This may impact on the building approval estimates in that state"
Private capital expenditure and sector credit increased indicating increased confidence
Building approvals fell -8.7%, while this was greater than expected, the overall trend for 17 months has been a declining trend
Additionally, in the notes section they state: "The Building Act 2011 came into effect in Western Australia on the 2 April 2012, bringing in significant changes to the building approval process. This may impact on the building approval estimates in that state"
Private capital expenditure and sector credit increased indicating increased confidence