CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Australian dollar flat despite weak building approvals

Building approvals fell 9.4% in August according to the Australian Bureau of Statistics (ABS), slightly exceeding expectations by1%.

Zena Chamas

Publication date : 2018-10-03T03:45:00+0100

Houses

Source: Bloomberg

This comes following a 4.6% fall in building approvals in July, according to the ABS.

The estimate for total dwellings approved fell 1.9% in August, while the seasonally adjusted estimate for total dwellings approved fell 9.4% in August.

Private sector houses also suffered in August, with the trend estimate falling 1.2%, and the seasonally adjusted estimate fell 1.9%.

The trend estimates of the value of total building approved fell 1.3% in August following a 9-month low.

The value of residential building fell 0.8% following 7-month lows. The value of non-residential building fell 2.3% and has fallen for 13 months.

The seasonally adjusted estimate of the value of total building approved fell 9.5% in August following a 6.9% rise in July.

The value of residential building rose 0.7%, while the value of non-residential building fell 24.5%.

The Australian dollar eased to 0.7164 against the US dollar upon the weak data, slightly falling from 0.7173.

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

Find articles by writer

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Professional Clients can lose more than they deposit.

The value of shares and ETFs bought through an IG stock trading account can fall as well as rise, which could mean getting back less than you originally put in. Please ensure you fully understand the risks and take care to manage your exposure.

IG does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. IG is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.

IG is a trading name of IG Limited a company registered at 2702 & 2703 Level 27, Tower 2, Al Fattan Currency House, DIFC, Dubai, United Arab Emirates. IG is authorised and regulated by the Dubai Financial Services Authority (DFSA) under reference No. F001780.

The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UAE and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.