Australian home loan approvals unexpectedly decline

The number of Australian new home loan approvals unexpectedly declined in March, falling for a second month, official data showed on Monday.

In a report the Australian Bureau of Statistics said the number of home loans granted fell by a seasonally adjusted -1.5% in March, after tumbling by -4.7% in February, whose figure was upwardly revised from a decline of -5.6%.

Analysts had expected the number of home loans granted to rise by 2.0% in March.

Following the release of the data, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.08% to hit 1.0564.

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