Aussie slips on mixed Aussie data
January 7, 2021SharePrint
The Australian dollar has recorded considerable losses in the Thursday session. AUD/USD is currently trading at 0.7749, down 0.69% on the day. The Aussie is having its worst day since October. Given the strong gains that the currency has racked up, some of these losses can be attributed to profit-taking.
Australia Building Approvals Climb
There was positive news from Australia’s construction sector on Thursday. In November, Building Approvals for total dwellings rose 2.6%, marking a third successive again. Private sector approvals are on a tear and climbed to their highest level since 1999, according to the Australian Bureau of Statistics. The construction sector continues to expand and has weathered the Covid storm quite well.
Business by Melissa Iaria 7th Jan 2021 6:17 PM There were no coal shipments bound for China from two major Australian ports in December, as trade tensions between the two countries continue. The development has surprised market watchers because coal shipments traditionally rebound in December, ahead of the new calendar year when China sets its quotas for Australian coal. The trend was reflected in new figures from the Australian Bureau of Statistics on Thursday showing Australian coal exports to China plunged from more than $823.3 million in November 2019 to $121.7 million in November 2020. The data tracks the fall of local coal exports to China over the last six months to November, from a high in of June of $1.35 billion.
SOURCE / GT VOICE By Global Times Published: Jan 07, 2021 08:12 PM
File photoAustralia s trade surplus shrank to A$5 billion ($3.9 billion) in November, down from A$6.6 billion in October, according to figures released on Thursday by the Australian Bureau of Statistics.
While the country s imports, which hit a record in November thanks to the strong domestic demand, may have played a part in the narrowed trade surplus, the slowdown in its exports to China also seemed a likely factor impacting the figure.
Superficially, this may simply show that Australia s trade surplus contracted because its exports didn t grow as fast as imports in the month, but should this trend continue, the country s trade surplus may become unsustainable and face long-term structural problems.
Big money worry for Australians
2 Jan, 2021 11:12 PM
5 minutes to read
Australians are increasingly worried about paying rent and mortgages. Photo / Getty Images
news.com.au
By: Kathy Skantzos
One in four Australians – 25 per cent – are worried about how they will pay the rent or mortgage after Christmas, according to new research by comparison site Finder.
That s the equivalent of 4.8 million Australians who may have difficulty coming up with the funds to pay their mortgage or rent.
The Finder survey of 1004 respondents revealed 16 per cent of Australians are somewhat worried about meeting payments, while a further 9 per cent say they are extremely worried.
Noosa has clearly seen the biggest market gains when you consider its ushered in a median house price of $895,000 (a 3.6 per cent rise), Ms Mercorella said. Noosa s quarterly median unit price was the category s top performer for the state as well, rising five per cent to $705,000. The Sunshine Coast property market continues to remain one of the prime spots in Australia, with quarterly growth of 1.8 per cent with a median house price now $620,000, she said. The Coast also posted strong results with the second highest median unit price for the quarter of $445,000 with speculation this was being driven by a pandemic-triggered southern investment spree.