The AUD/USD pair is rising on Wednesday morning after some positive statistics from Australia.
The Australian Dollar is growing against the USD in the middle of the week. The current quote for the instrument is 0.7972
This morning, Australia reported on the Building Permits, which lost 1.7% m/m in July after adding 11.7% m/m the month before and against expectations of losing 5.4% m/m. On YoY, the indicator was -13.9% in July after being -16.6%% in June. The numbers turned out to be better than expected. Of course, the indicator is falling, but not very seriously. Before making long-term conclusions, we should wait and see the August readings. However, even now we can see that the tendency is quite positive.
It’s rather interesting that the Construction Work Done is increasing. The latest reading added 9.3% q/q in comparison with the previous one.
It appears that the construction sector, which is the most difficult one to improve, is feeling better and better. There may be no dramatic improvements here, because it requires a lot of finances and a high demand, but the tendency is positive and favorable, which is good for the Aussie.
RoboForex Analytical Department