Well so far today's Asia FX action sucks.
Scanning some of the info around the place, this in the Australian Financial Review, reporting on an assessment from a building products group:
- Metroglass is the third-largest glass processor in Australia
- chief executive Simon Mander comments
- expects more declines in the number of housing starts in 2019-2020
AFR goes in with some of the glimmers of positivity for the sector:
- A loosening of regulatory controls by the APRA
- election victory by Prime Minister Scott Morrison … means an end to uncertainty about negative gearing changes
Adds:
- prospect of interest rate cuts by the Reserve Bank of Australia to try and kick-start a sagging economy, which while a positive for borrowers is a signal of an economy battling to re-gather momentum
