IGM)[AUST DATA PREVIEW] Q3 dwelling starts bounced back...

IGM)[AUST DATA PREVIEW] Q3 dwelling starts bounced back strongly, surging by a record 9.4%...
[AUST DATA PREVIEW] Q3 dwelling starts bounced back strongly, surging by a record 9.4% over the qtr, even stronger than expectations on an already robust 6.8% rise and following a revised higher -1.9% fall in Q2 (prelim -3.7%). Gains were dominated by the housing segment of the market, with new private sector housing commencements rising by 8.1% over the qtr after a 5.1% gain prior following the Govts first home buyers grant. New private sector other residential building also recovered well, spiking up by 9.0% following a revised fall of 20.2% in the June quarter. 00:46 GMT - Stg yesterday was benefited most from the Dubai news, but strength did not last, so the [STG/DLR] quickly fell from the 1.6327 high, and its rebound was limited amid talk of large Stg/Chf sales from a UK bank in Ldn time, but the pair held well above 1.62 and our low at 1.6190, and rebounded to the 1.63's in NY time. Choppy and undecided moves tell us few important messages. The pair ends NY at the 1.62's since Dec 8 (yesterday close slightly above 1.6300), keeps staying at the 1.62's and 1.63's, and cannot get away from the Ichimoku cloud ((today at 1.6274-1.6413). Dubai crisis is temporarily sealed, but not over.