Australian Building Permits better than expected, +3.3% for September

Joshua Gibson FXStreet

Australia's m/m Building Permits came in at 3.3%, beating the expected reading of 3.0% and putting further distance on the previous month's -9.4% contraction.

Despite the improved reading, the annualized reading is highlighting the Australian housing market's struggles, with the y/y Building Permits figure declining by -14.1%, further slipping from the previous reading of -13.6%.

Key highlights (via ABS)

TOTAL DWELLING UNITS
The trend estimate for total dwellings approved fell 1.9% in September.
The seasonally adjusted estimate for total dwellings approved rose 3.3% in September.

PRIVATE SECTOR HOUSES
The trend estimate for private sector houses approved fell 1.5% in September.
The seasonally adjusted estimate for private sector houses fell 2.7% in September.

PRIVATE SECTOR DWELLINGS EXCLUDING HOUSES
The trend estimate for private sector dwellings excluding houses fell 2.7% in September.
The seasonally adjusted estimate for private sector dwellings excluding houses rose 9.2% in September.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

EUR/USD flat lines around 1.1900; looks to US NFP report for fresh directional impetus

The EUR/USD pair is seen oscillating in a narrow trading band around the 1.1900 mark during the Asian session on Wednesday as traders opt to wait for the release of US monthly employment details before placing fresh directional bets.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold recovers to $5,050, focus shifts to US jobs data

Gold turns higher to test $5,050 in the Asian session on Wednesday. Traders assess whether Gold has found a floor following a historic sell-off. The delayed US employment report for January, which was pushed back due to the recently ended four-day government shutdown, will take center stage later on Wednesday.

Ethereum: Whales buy the dip amid rising short bets

Following one of Ethereum's largest weekly drawdowns, whales are slowly returning to action alongside a drop in retail selling pressure. After slightly selling into the decline at the start of the month, whales or wallets with a balance of 10K-100K ETH began buying the dip last Wednesday as prices crashed further.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.