Australia AUD

Australia Private House Approvals MoM

Impact:
Low
Source: Australian Bureau of Statistics

Latest Release:

Date:
Surprise:
0.2%
Actual:
0.7%
Forecast: 0.5%
Previous/Revision:
1.6%
Period: Jul
What Does It Measure?
The Australia Private House Approvals MoM measures the number of new residential building approvals granted in a month, focusing specifically on private sector housing. This indicator assesses the demand for new housing construction, reflecting trends in the residential property market as well as influencing future construction activity.
Frequency
The Private House Approvals report is released monthly, typically on the first working day of each month, and may include both preliminary and final figures based on early estimates and revised data.
Why Do Traders Care?
Traders monitor the Private House Approvals as it provides insight into the health of the construction sector and overall economic activity in Australia. A rise in approvals often signals increased future construction activity, which can be bullish for the AUD and stocks in the construction and real estate sectors, while weak results may lead to bearish sentiment.
What Is It Derived From?
The Private House Approvals are derived from data collected by the Australian Bureau of Statistics, which surveys local councils and other authorities regarding the number of permits issued for private residential building projects. The calculation involves summing the value or count of approvals and may utilize seasonal adjustments for accuracy.
Description
The releases consist of both preliminary and final reports, where preliminary data reflects early estimates and is subject to changes, while final data offers a more accurate representation of the approvals. Traders typically react more vigorously to the preliminary figures due to their timeliness, but they also adjust their expectations based on final reports as more complete data becomes available.
Additional Notes
This indicator is often considered a leading economic measure, as it precedes actual construction and can indicate future economic activity trends. Comparing this data with other indicators such as construction output or employment in the construction sector can provide a more comprehensive view of the economic landscape.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for AUD, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Aug 30, 2022
0.7%
 0.5%
1.6%
 0.2%
Aug 02, 2022
1.2%
 -0.9%
-2.1%
 2.1%
Jul 04, 2022
-2.7%
 0.2%
-0.2%
 -2.9%