by Tue, 29 Jun 2010 01:02:00 +0200
New Zealand: Building permits sharply fall by 9.6% in May
FXstreet.com (Córdoba) - The number of new housing units authorized fell 9.6%, following an 8.4% rise in April 2010.
"The trend, which reflects long-term behavior, for the number of new housing units authorized (excluding apartments) has been increasing since early 2009. However, the level is still 30 percent lower than the peak in June 2007", Statistics of New Zealand said today.
New Zealand dollar has sharply fall after the announcement. NZD/USD slumped from the 0.7080 zone to 0.7050. AUD/NZD jumped almost 30 pips to 1.2325 and NZD/JPY fell below 63.00 and is at the moment around 62.93.
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