Australian Building Permits YoY Prel (Feb) Y/Y 10.8% (Prev. -15.7%)
The preliminary data on Australian building permits shows a significant rebound with a year-on-year increase of 10.8%, reversing the sharp decline of -15.7% in the previous period.
United Arab Emirates is preparing to help the US and other allies open the Strait of Hormuz by force, according to WSJ
PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: AUO Corp (2409 TT) said it is submitting samples of power-efficient micro LED modules to customers ahead of the commercial launch of advanced packaging copackaged optics for AI data centres
Australian Building Permits YoY Prel (Feb) Y/Y 10.8% (Prev. -15.7%)
UKMTO received a report of an incident 17 nautical miles north of Qatar's Doha with a tanker hit by an unkown projectile, although crew are reported as safe
[CALENDAR ADDITION] Australian PM Albanese is to address the nation at 19:00 local time tonight (09:00BST/04:00EDT)
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This positive shift suggests a recovery in the construction sector, which may indicate strengthening economic conditions and could influence expectations for monetary policy and the AUD outlook. Market participants should watch for possible adjustments in Australian economic forecasts as a result.
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