Australia building approvals for September 3.3% versus 3.8% expected

YoY -14.1% versus -13.6% last month

The Australian building approvals for September came in weaker than expectations

• building approvals September 3.3% vs 3.9% expectations (note Reuters had an estimate of 3% so it could be mixed)
• The YoY came in weaker at -14.1% vs -9.0% expected.

The data can be distorted by large apartment projects.

Private sector, approvals in September fell -2.7% MoM

The AUDUSD is trading near session highs despite the weaker data. The 100 hour MA (blue line) is the next upside target.