Surprising building approval hike triggers AUD rally

By Your Mortgage
The dramatic increase in recent building approvals has led to a stronger Australian dollar as the local currency went up from USD80.85 to US$81.04 on Thursday.
 
It also saw a hike at 12.00pm on Thursday when it traded at US80.93c, up from US80.73c on Wednesday.
 
The rate of approvals beat economists’ projected fall of 3% by rising to 7.5% in November.
 
The market will now look to Friday when local retail sales figures, Chinese inflation, and US non-farm payrolls will be released, Easy Forex currency dealer Liam Moon said.
 
"There's a lot of economic data at the moment that are going to impact on the Australian dollar," he said.