Open a free practice account and experience the Forex market risk-free with exclusive access to VT Trader™ 2.0.
Simulated conditions may differ from real conditions, and traders should not necessarily expect the same results from live trading.
|
Actual | Forecast | Previous | Revised Form | |
| -12.5% | 3.2% | 5.1% | N/A | ||
|
For May m/m (s.a.)
Approvals y/y: -22.4%, pr. -16.1% (Apr), 15.2% (Mar), -25.5% (Feb),
|
|||||
| 9/29 | 11/4 | 12/3 | 1/7 | 2/3 | 3/4 | 3/31 | 5/4 | 6/1 | 6/30 | ||
| Actual | -3.7% | -7.2% | -5.4% | -12.8% | -2.9% | -3.7% | 7.8% | 3.5% | 5.1% | -12.5% | |
| Forecast | -1.0% | -1.1% | 0.2% | -1.3% | 2.0% | 1.3% | 1.5% | 2.8% | 2.1% | 3.2% | |
| Previous | -2.3% | -3.4% | -5.9% | -3.1% | -12.8% | -1.9% | -4.0% | 8.0% | 6.3% | 5.1% | |
| Revised From | N/A | -3.7% | -7.2% | -5.4% | N/A | -2.9% | -3.7% | 7.8% | 3.5% | N/A | |
|
Actual | Forecast | Previous | Revised Form | |
| 0.9% | 1.6% | 4.8% | 4.9% | ||
|
For April
|
|||||
| 9/8 | 10/7 | 11/9 | 12/9 | 1/13 | 2/10 | 3/10 | 4/7 | 5/11 | 6/9 | ||
| Actual | -0.2% | -2.2% | -2.7% | 1.3% | 1.3% | 6.4% | 3.5% | 0.4% | 4.9% | 0.9% | |
| Forecast | 0.0% | -1.0% | -2.7% | 1.0% | 1.0% | 3.8% | 4.0% | 2.0% | 4.5% | 1.6% | |
| Previous | -3.7% | -0.2% | -2.1% | -2.4% | 1.4% | 1.8% | 6.7% | 4.3% | 1.2% | 4.8% | |
| Revised From | N/A | N/A | -2.2% | -2.7% | 1.3% | 1.3% | 6.4% | 3.5% | 0.4% | 4.9% | |
|
Actual | Forecast | Previous | Revised Form | |
| 5.1% | 2.1% | 6.3% | 3.5% | ||
|
For April m/m (s.a.)
Approvals y/y: -16.1%, pr. -15.2% R (Mar), -25.5% (Feb), -33.5% (Jan),
|
|||||
|
Actual | Forecast | Previous | Revised Form | |
| 4.9% | 4.5% | 1.2% | 0.4% | ||
|
For March
|
|||||
|
Actual | Forecast | Previous | Revised Form | |
| 3.5% | 2.8% | 8.0% | 7.8% | ||
|
For March m/m (s.a.)
Approvals y/y: -16.5%, pr. -25.5% (Feb), -33.5% (Jan), -32.9% (Dec),
Building approvals rose in March for a second straight month, a positive sign for the Australian housing market. With sharp interest rate cuts increasing affordability and government grants helping first-time buyers, demand is on the rise. A higher number of building permits should mean more constructions in the near future which will help the construction sector. Compared to a year ago, permits are down 16.5%, a vast improvement from the 30% declines seen in November, December and January. |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| 0.4% | 2.0% | 4.3% | 3.5% | ||
|
For February
The number of loans granted to build or buy homes and apartments rose by 0.4%. Though the figure was smaller than expected, it was still the fifth straight month that loans grew. Mortgage rates have come down dramatically as the central bank has embarked on a sharp rate cutting campaign which has brought rates down to 3%, a 49-year low. Also, the government's recent move to triple the grant they give to first-time buyers is paying off. Nearly 27% of the homes financed in February were taken out by first-time buyers. |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| 7.8% | 1.5% | -4.0% | -3.7% | ||
|
For February m/m (s.a.)
Approvals y/y: -25.5%, pr. -33.5% (Jan), -32.9% (Dec), -32.9% (Nov),
|
|||||
|
Actual | Forecast | Previous | Revised Form | |
| 3.5% | 4.0% | 6.7% | 6.4% | ||
|
For January
|
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -3.7% | 1.3% | -1.9% | -2.9% | ||
|
For January m/m (s.a.)
Approvals y/y: pr. -32.9% (Dec), -32.9% (Nov), -26.0% (Oct), -21.6% (Sep),
|
|||||
|
Actual | Forecast | Previous | Revised Form | |
| 6.4% | 3.8% | 1.8% | 1.3% | ||
|
For December
|
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -2.9% | 2.0% | -12.8% | N/A | ||
|
For December m/m (s.a.)
Approvals y/y: -32.9%, pr. -32.9% (Nov), -26.0% (Oct), -21.6% (Sep),
|
|||||
|
Actual | Forecast | Previous | Revised Form | |
| 1.3% | 1.0% | 1.4% | 1.3% | ||
|
For November
|
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -12.8% | -1.3% | -3.1% | -5.4% | ||
|
For November m/m (s.a.)
Approvals y/y: -34.7%, pr. -26.0% (Oct), -21.6% (Sep), -8.6% (Aug),
|
|||||
|
Actual | Forecast | Previous | Revised Form | |
| 1.3% | 1.0% | -2.4% | -2.7% | ||
|
For October
The number of home loans granted to build or buy homes and apartments rose 1.3% in October, which beat economists' forecasts. The central bank has moved aggressively to bring down borrowing costs after the credit crunch stalled the economy's growth. The RBA has cut rates by 3% since September, and the government has passed a stimulus package that had consumers feeling slightly more optimistic according to data releases today. A rebound in housing is a welcome sign that may signal that Australia is in a better suited position to deal with its downturn. The Aussie was quiet overnight however, inching up against the Yen and Dollar. |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -5.4% | 0.2% | -5.9% | -7.2% | ||
|
For October m/m (s.a.)
Approvals y/y: -26.0%, forecast -21.5%, pr. -21.6% (Sep), -8.6% (Aug),
Building approvals fell 5.4% in Australia in October, which surprised forecasts on the downside. The RBA has been aggressive in cutting rates in order to ease borrowing costs for consumers and potential home buyers. However, with the economy on the ropes and credit tight, home builders do not seem eager to get new permits for new constructions. Its the second month in a row that approvals fell by more than 5%, though September's figure was revised higher to show a 5.9% decline compared to the 7.3% originally reported. |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -2.7% | -2.7% | -2.1% | -2.2% | ||
|
For September
Provided by: Australian Bureau of Statistics Australian housing financing declined in September according to the ABS. The number of "dwelling commitments" in seasonally adjusted terms fell by 2.7% on the month, while the trend estimate also declined 1.9%. The dollar value of these home loans fell 1.6% in seasonally adjusted terms and 1.1% in trend estimates.This is the eighth month that the number of loans have declined. Since January, home loans have dropped off from the of 67,213 to at least a 7-year low of 47,435, a drop of 29.4%. The RBA's interest rate cuts have yet to show their effects for the economy. The bank has cut a total of 200 basis points in 3 meetings since September, as the economic gloom presses on. |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -7.2% | -1.1% | -3.4% | -3.7% | ||
|
For September m/m (s.a.)
Building Approvals -21.6%, y/y: forecast -14.3%, pr. -8.6% (Aug), -3.7% (Jul),
Australia's housing market is also feeling the lack-of-credit pinch. Building approvals have been on a downtrend since peaking in December of 2007. In September, the number of total dwellings approved plumetted by 7.2% on a seasonally adjusted basis, bringing the year to year change down by 21.6%. This third straight month of decline brings the data to the lowest since April 2001. Home starts are coming to cyclical lows despite an undersupply of housing because the credit pipeline is restricted, and the outlook dim on the economy. The RBA is very likely to further its rate cutting campaign as the recent fundamentals provide evidence of a recession both in the country and globally. |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -2.2% | -1.0% | -0.2% | N/A | ||
|
For August
The number of home loans approved in Australia fell by 2.2% to 48,903 in August - a seven year low. The number of approvals is down 27% since January, when it reached 67,126. Demand for home loans is down as the economy heads lower, there is an increase in unemployment in sectors not associated with exports, and interest rates were still high. Weak demand supports the decision by the Reserve Bank of Australia to cut rates by a full 1% in Monday's meeting, as the bank tries to ease borrowing costs during the most recent and most severe bout of credit crisis. The rate reduction caused Australia's four largest banks to cut their standard variable home loan rates by 80 basis points. The RBA followed up its bold interest rate cut by expanding its market operations by allowing banks and other financial institutions to deposit residential mortgage-backed securities and asset-backed commercial paper in exchange for collateral. This move should try and help unfreeze credit markets in the country. Credit provided by banks and financial institutions rose a meager 0.4% in August, the smallest increase in 22 years. |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -3.7% | -1.0% | -2.3% | N/A | ||
|
For August m/m (s.a.)
Building Approvals y/y: -8.6%, forecast -4.5%, pr. -3.7% (Jul), -7.8% (Jun),
Australian building approvals were down 3.7% in August compared to July and registered an 8.6% drop compared to a year ago. Both of those numbers showed bigger falls than was expected by economists. The weaker figures reflect continued investor caution due to high interest rates and low residential yields. That should remain true as long as the financial turmoil remains. Traders are pricing in a 50 point basis cut when the RBA meets next Tuesday. |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -0.2% | 0.0% | -3.7% | N/A | ||
|
For July
Approvals for home loans declined 0.2% in July, slightly below the forecast of flat growth. In June approvals declined by a much larger 3.7%, though today's negative result is the now the 6th straight month that approvals have dropped. The central bank lowered rates to 7.00% from 7.25%, in a move to make monetary policy less restrictive. It was the first time the RBA has lowered rates in nearly 7 years. With the economy cooling as domestic demand decreases, the bank expects inflation to moderate. Governor Glenn Stevens signaled that the RBA was going to lower rates, in its statement following the August 5th meeting. Since then the AUD/USD slid from 0.9150 to 0.8075, a move of 1000 pips. Only a couple of weeks earlier, on July 15th, the AUD/USD hit a 24-year high near 0.9847. The slide from that high is even more dramatic, amounting to almost 1750 pips in about two months time. |
|||||