FXstreet.com (Barcelona) – The first official piece of Australia’s Q3 GDP puzzle is released today, that is, construction work done (8.30GMT), notes Sean Callow, FX Strategist at Westpac.
“We expect a -0.5% q/q headline, -3% y/y, with falling mining investment and slightly softer public construction outweighing a 1.5% q/q rise in residential construction. Consensus is +0.5% q/q but only a big surprise is likely to impact AUD notably (say +/-3% or more). Capex (tomorrow) is the bigger report.”
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