Australian private building approvals, ANZ jobs engouraging

Australian building approvals fell to -2.4% on a monthly basis vs. +2.8% estimates and -4.4% prior. Private approvals came positive at +3.3% though, which according to David Scutt, Treasury Dealer at Arab Bank Australia, quoted on his twitter account, "this is what the RBA wants to see..." The yearly reading stood at +9.9% vs. +8.1% expected.

Australian inventories for the fourth quarter of 2012 came at +0.2% vs +0.6% expected. The company operating profits in Q4 was in line with expectations at -1.0%. ANZ job advertisement climbed to 3.0% in Jan vs upward revised 0.6% in Dec reading.

"ANZ job ads, as a leading indicator, have now risen for two months in a row. Another good sign for future labour market strength" David Scutt added.