GBP/AUD Downturn Likely Continue if Australian Housing Market Rebounds

GBP/AUD –  Forecast & Technical Analysis for Australian Binary Options

Australia – Building Approvals

On Thursday, at GMT 1:30 a.m., the Australian Bureau of Statistics will release the national month-over-month building approvals figure. It measures the changes in the number of approvals of new buildings.

A building permit indicates new construction work. It also suggests that there would be additional positive economic activities. For example, new jobs would be created for construction workers. Therefore, HighLow investors consider this data regarding new building approvals to be a leading indicator of the overall economic health of the country.

Last month, the building approvals figure decreased by -15.5%. This month, analysts are expecting it to grow by 0.1%.

United Kingdom – Nationwide House Price Index (HPI)

This week, the UK’s Nationwide Building Society will release their house price index. It measures the changes in the selling price of houses that are bought using mortgages issued by Nationwide.

Rising house prices encourage home buyers to purchase new homes with the expectation that their investment value will increase over time. An increasing HPI is considered good for the overall economy. Hence, binary options traders consider the Nationwide house price index to be a leading indicator of the UK’s economy.

Last month, the Nationwide house price index came increased by 0.4%. Analysts are expecting it to remain unchanged at 0.0% this month.

GBP/AUD Forecast

GBP/AUD Forecast - May 27 2019

United Kingdom – Nationwide House Price Index (HPI)

This week, the UK’s Nationwide Building Society will release their house price index. It measures the changes in the selling price of houses that are bought using mortgages issued by Nationwide.

Rising house prices encourage home buyers to purchase new homes with the expectation that their investment value will increase over time. An increasing HPI is considered good for the overall economy. Hence, binary options traders consider the Nationwide house price index to be a leading indicator of the UK’s economy.

Last month, the Nationwide house price index came increased by 0.4%. Analysts are expecting it to remain unchanged at 0.0% this month.

John was born in Wollongong (NSW ) and studied at The London School of Economics ( England, UK ). Currently he lives in Sydney ( NSW ) and he works as financial market analyst.

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John Walker

Financial Analyst at Clicking Media Group
John was born in Wollongong (NSW ) and studied at The London School of Economics ( England, UK ). Currently he lives in Sydney ( NSW ) and he works as financial market analyst.
John Walker
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