Australian Building Approvals for September: -4.6% m/m (expected +1.3%)

<p>Australia Building Approvals for September 2023 come in at -4.6% m/m</p><ul><li>expected +1.3%, prior +7.0%</li></ul><p>A poor report for the sector. IF the RBA is eyeing data on the health of the Australian econly they'll be getting worried. </p><p>This from earlier (check the remarks from the report, not confidence inspiring at all):</p><ul><li><a href="https://www.forexlive.com/news/australian-final-manufacturing-pmi-for-october-482-prior-487-20231031/" target="_blank" rel="follow" data-article-link="true">Australian final manufacturing PMI for October: 48.2 (prior 48.7)</a></li></ul><p>Meanwhile, inflation appears to have gotten away form policymakers at the Bank and a rate hike next week (November 7) seems likely. The IMF is urging it:</p><ul><li><a href="https://www.forexlive.com/centralbank/imf-tells-the-rba-to-hike-interest-rates-higher-and-hold-em-high-for-longer-20231101/" target="_blank" rel="follow" data-article-link="true">IMF tells the RBA to hike interest rates higher, and hold 'em high for longer</a></li></ul><p>Not that you want to pay too much attention to the Fund, but in this case they are correct. </p>

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