{"id":61253,"date":"2014-10-02T02:18:54","date_gmt":"2014-10-02T06:18:54","guid":{"rendered":"http:\/\/countingpips.com\/?p=61253"},"modified":"2014-10-02T07:23:04","modified_gmt":"2014-10-02T11:23:04","slug":"aud-rallies-on-strong-australian-building-approvals","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/aud-rallies-on-strong-australian-building-approvals\/","title":{"rendered":"AUD rallies on strong Australian building approvals"},"content":{"rendered":"<div id=\"inves-2225077022\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 2, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>The Australian dollar clawed its way off eight-month lows on Thursday after an attempt on the downside fizzled out and squeezed bearish bets, giving a fillip to the New Zealand dollar.<\/p>\n<p>The Aussie dollar rallied to $0.8798, from $0.8728 in early trade, helped by surprisingly strong 3 percent increase in Australian building approvals.<\/p>\n<p>The Aussie had already started a modest recovery overnight after the market was caught short trying to trigger stops below $0.8660, a major support level and the 2014 trough.<\/p>\n<p>The Aussie also gained around 0.6 percent versus the euro, pound and yen, pulling away from recent lows.<\/p>\n<p>\u201cWe are in the mood where the Aussie can at least stabilise around $0.8800\/20, but it is more a correction after being heavily sold,\u201d said Sean Callow, a senior currency strategist at Westpac.<\/p><div id=\"inves-3158423206\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>The Aussie has dropped more than 6 percent in the past month amid a strengthening U.S. currency and sliding global commodity prices. A breach of $0.8660 would take it to the weakest in more than four years.<\/p>\n<p>Other local data included a slightly wider-than-expected trade deficit of A$787 million.<\/p>\n<p>Also of note was the Reserve Bank of Australia telling a Senate inquiry that regulators were considering new steps to rein in lending for housing investment with an announcement likely by the end of the year.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime The Australian dollar clawed its way off eight-month lows on Thursday after an attempt on the downside fizzled out and squeezed bearish bets, giving a fillip to the New Zealand dollar. The Aussie dollar rallied to $0.8798, from $0.8728 in early trade, helped by surprisingly strong 3 percent increase in Australian building [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-61253","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=61253"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61253\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=61253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=61253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=61253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}