Back

Australia: Housing finance recovers in June – ANZ

ANZ analysts point out that the value of Australia’s housing finance rose 1.9% m/m in June after a sharp drop in May (-2.7%), reversing much of the losses from May.

Key Quotes

“Annual growth was -17.6% y/y, similar to March/April results.”

“Owner-occupier finance increased sharply by 2.4% m/m, leading to a year-on-year contraction of 14.8%. This is in line with the average for the first few months of the year, excepting the drop in May.”

“We believe that the jump in June reflects in part the hangover of demand in April and May, when a string of public holidays and the election may have delayed housing purchases. The dramatic shift in housing sentiment since May could lead to further lifts in credit growth in the next few months.”

“Investor demand ex refinancing ticked up 0.5%, the first positive result since July 2018. Total investor demand was also up for the first time in seven months. While investor demand (ex-refinancing) is still considerably lower than last year (-24.7%), this is the smallest year-on-year decline since October 2018.”

RBNZ: Surprise 50bps OCR cut – Westpac

Dominick Stephens, chief economist at Westpac, points out that the Reserve Bank of New Zealand reduced the OCR by 50 basis points to 1.00% at today’s
อ่านเพิ่มเติม Previous

WTI technical analysis: Falling wedge support, oversold RSI question further declines

With the support-line of a short-term falling wedge limiting WTI declines, amid oversold RSI, the energy benchmark takes the rounds to $53.60.
อ่านเพิ่มเติม Next