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

<p>Interest rate rises impacting, of course.</p><p>Property prices in Australia have fallen with the RBA hiking rates. This makes new construction activity less attractive at the margin. </p><p>Private sector house approvals down 2.5% m/m in November also (prior -2.2%).</p><p>—</p><p>AUD/USD little changed on the data. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.