The Australian dollar is attempting a pullback this Thursday after Tuesday’s 2.2% fall against the U.S. dollar. The morning kicked off with some poor economic data (see calendar below) out of Australia by way of building permits and private house approvals for January. Both sets of data printed in line with estimates but reached levels last seen in January 2022. This deterioration in the housing and building sectors are a reflection of the high interest rate environment created by the Reserve Bank of Australia (RBA).
