AUD data responses coming in – building approval data “broadly in line “

Response (this summary is in brief) via Westpac:

Dwelling approvals … result was below market expectations of a
5% decline but should be considered broadly in line given the extreme
volatility in recent months. 

detail showed a slightly sharper
than expected reversal in high rise approvals

• a slightly weaker
  than expected gain for non high rise approvals.

extreme volatility makes it difficult to
say which way momentum is heading although most indicators continue to
point to a leg lower over the medium term

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Also, WPAC on the retail sales data (again, this in summary from their more detailed note)