What is it? It checks the change in the number of new building approvals issued.
It's an excellent measure of future construction activity because obtaining government approval is among the first steps in constructing a new building. Construction is important because it produces jobs for the construction workers, subcontractors and inspectors, and various services are purchased by the builder.
Usual Effect: If the actual number is bigger than the forecast, you can expect the AUD to rise.
When? Today (1.10) at 09:30pm Eastern Time.
Trading Tip: The announcement can greatly affect the AUD, make sure to make your trade before.
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