Loading…
Australia's Q1 construction work done fell 1.9%, missing expectations for no change after a 3.1% drop in late 2018. AUD/USD traded near 0.6880 after the release, and the RBA Governor had nearly pre-announced a June cut.
Weak construction feeds into GDP and raises the odds of RBA easing, which keeps the Australian dollar under pressure and signals softer activity in the Australian economy.
octaafrica.netMay 22, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
