Key Aussie trade and building permits – Westpac

FXStreet (Guatemala) – Key Aussie trade and building permits – Westpac
Sean Callow, Analyst at Westpac Banking Corporation explains that Australia Jun building approvals will be released at 11:30am Syd/9:30am Sing/HK and we look ahead to import/export price index also.

Key Quotes:

“The measure rose 2.4%m/m in May as high rise approvals rebounded and hit a new record. This rebound in high rise approvals in May plus softening homebuyer sentiment and flattening construction-related finance approvals suggest Jun could decline, consistent with the softening underlying trend. Investor activity however remains strong and there may be a pull forward in Victoria ahead of the introduction of a new levy, so we expect approvals to show a 1% dip, in line with the market median. “

“We will have the Q2 international trade price indexes at the same time. Westpac expects import prices to rise 2.7%, above consensus of 1.5%, led by a rebound in energy costs. Export prices have come under pressure from weaker commodities, particularly iron ore. There was little offset from the currency. Thus we expect -4.5% while the median is at -4.0%.

Sean Callow, Analyst at Westpac Banking Corporation explains that Australia Jun building approvals will be released at 11:30am Syd/9:30am Sing/HK and we look ahead to import/export price index also.

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