Australian (November) building approvals -9% m/m (vs, expected -1%)

Interest rate rises impacting, of course.

Property prices in Australia have fallen with the RBA hiking rates. This makes new construction activity less attractive at the margin.

Private sector house approvals down 2.5% m/m in November also (prior -2.2%).

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AUD/USD little changed on the data.

The Reserve Bank of Australia next meet on February 7. Analysts are not unanimous That another rate hike is coming. I expect +25bp at this meeting. Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is way too high for the RBA to back off just yet. Earlier:

• Most analysts expect 2 RBA rate hikes in 2023, cuts from March 24. Goldman Sachs: "Nah"