Investing.com – The number of Australian new home loan approvals rose significantly more-than-expected in October, official data showed on Wednesday.
In a report the Australian Bureau of Statistics said the number of home loans granted rose by a seasonally adjusted 1.9% in October, after rising by 1.3% in September.
Analysts had expected the number of home loans granted to rise by 0.2% in October.
The report said that the total value of loans increased by 0.3% to AUD 20.5 billion in October.
Following the release of the data, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.52% to hit 0.9777.
In a report the Australian Bureau of Statistics said the number of home loans granted rose by a seasonally adjusted 1.9% in October, after rising by 1.3% in September.
Analysts had expected the number of home loans granted to rise by 0.2% in October.
The report said that the total value of loans increased by 0.3% to AUD 20.5 billion in October.
Following the release of the data, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.52% to hit 0.9777.