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11 Mar 2015
RBA Kent: Despite the decline AUD remains relatively high – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team summarizes the key developments today in the Australian market – data releases and RBA Assistant Governor Kent’s comments on AUD and employment data.
Key Quotes
“Australia MAR Westpac Consumer Confidence Index: 99.5 V 100.7 PRIOR; M/M: -1.2% V +8.0% prior (1st decline in 3 months)”
“Australia JAN Home Loans M/M: -3.5% V -2.0%E (largest decline in 17 months)”
“Australia put out a bigger than expected drop in January home loans, and Westpac Consumer Confidence for March was also a disappointment as optimism after the February rate hike started to wear off.”
“RBA Asst Gov Kent said that despite the latest decline, AUD remains relatively high given the state of economy, but that low rates will translate into stronger activity in housing.”
“Ahead of employment data tomorrow, Kent also said unemployment would rise for a bit longer and peak higher.”
Key Quotes
“Australia MAR Westpac Consumer Confidence Index: 99.5 V 100.7 PRIOR; M/M: -1.2% V +8.0% prior (1st decline in 3 months)”
“Australia JAN Home Loans M/M: -3.5% V -2.0%E (largest decline in 17 months)”
“Australia put out a bigger than expected drop in January home loans, and Westpac Consumer Confidence for March was also a disappointment as optimism after the February rate hike started to wear off.”
“RBA Asst Gov Kent said that despite the latest decline, AUD remains relatively high given the state of economy, but that low rates will translate into stronger activity in housing.”
“Ahead of employment data tomorrow, Kent also said unemployment would rise for a bit longer and peak higher.”