Quiet session as Asia digests FOMC
- Australia’s building approvals data paint a grim picture: (AU MARCH BUILDING APPROVALS MOM: -5.7% V -1.0% expected, -0.8% prior; YOY: -0.7% V -1.6% prior) Lehman Brothers chief economist Stephen Roberts said the small recovery in building approvals in the second half of 2007 had now been wiped out, which made a rate cut in the second half of this year more likely. “Quite clearly, it’s a very weak number,” he said. “Clearly, housing activity is weak. The issue is, at what point does the
Original post by Fundamental Analysis Reports