Forex Flash: OIS raises chances of RBA rate cut, but TD stays on hold – TD Securities

FXstreet.com (Barcelona) - Due to Australia’s building approvals fall by –5.5% m/m in March, below consensus expectation for a +1.0% gain, the OIS markets priced in a greater-than-even chance of a rate cut next week, but TD Securities analysts believe are less concerned and stay “on hold” as “the series is very volatile and the 3m annualized rate remains at a decent 155k (from 158k), in line with our housing starts forecast for the full year”, wrote analyst Alvin Pontoh. Building approvals decline was led by a drop in lumpy apartment approvals (-8%), while house approvals continued to rise