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Australian home loan approvals rise less-than-expected

Published 10/11/2010, 04:09 AM
AUD/USD
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Investing.com – The number of Australian new home loan approvals rose less-than-expected in August, official data showed on Monday.

In a report the Australian Bureau of Statistics said the number of home loans granted rose by a seasonally adjusted 1.0% in August, after rising by 1.8% in July, whose figure was revised up from 1.7%.

Analysts had expected the number of home loans granted to rise by 1.1% in August.

The report said that the total value of loans decreased by a seasonally adjusted 1.3% to AUD 20.1 billion in August.

Following the release of the data, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.08% to hit 0.9843.


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