Housing finance data for May is due from Australia today, at 0130GMT
Home loans m/m,
- expected is -3.0%, prior was +1.0%
Investment lending m/m,
- prior was +2.6%
Owner-occupied loan value m/m,
- prior was +3.1%
-
A decline for this measure is expected today. Outside of the two main capital city markets of Sydney (especially) and Melbourne prices are not on the boil, and activity is not frenetic.
Investor activity in Sydney and Melbourne is expected to show strong activity, though regulatory efforts are starting to have some impact at reigning in a little of the excess (there's a way to go for this).
-
For the AUD today .... the Chinese equity markets are expected to the driver again today .... that's a current correlation worth keeping an eye on.
I'll be back with the orderboard a little later, but for now:
Resistance 0.7490/00, and there should be some short covering above the 00
Support 0.7425/35 then 0.7400
