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Aussie Home Loan numbers jump

Written by Sam Coxhead on January 12th, 2011.      0 comments

12:00 PM (AEST) Australian Home Loans data just released showed an increase on the November month of 2.5% against a market expectation of -1.2. The market showed little focus on this number after taking the AUD 10-20pts higher initially, given what is happening in Queensland. Employment numbers in Australia tomorrow should garner more interest with the market expectation that 25.3k of jobs will have been added to reduce the unemployment rate to 5.1%
Latest commentary puts estimations of the cost of these devastating floods at .3-.5% of GDP for 2011. The AUD has been understandably put under pressure as a result. Since the lows just prior to Christmas the NZD has outperformed the AUD by around 4%, and most other currencies are in a similar situation.
The EURO’s fall stablised overnight as the costs of funding for peripheral states contracted a little. News that the EU are looking at increasing the size of the European Financial Stability Fund (EFSF) and Japan’s commitment to purchase 20% of the next tranche of funding for the EFSF next week, have helped calm the markets.
          Last 24 hours trade
  Current level Pre-Home Loans Chge Home Loans   Low High
NZD/USD 0.7594 0.7595 0.0%   0.7564 0.7632
AUD/USD 0.9834 0.9831 0.0%   0.9807 0.9955
NZD/AUD 0.7723 0.7727 -0.1%   0.7672 0.7733
AUD/NZD 1.2948 1.2941 0.1%   1.2931 1.3033
NZD/GBP 0.4867 0.4866 0.0%   0.4862 0.4902
NZD/EUR 0.5852 0.5851 0.0%   0.5845 0.5896
NZD/JPY 63.27 63.28 0.0%   62.88 63.46
NZD/CAD 0.7514 0.7509 0.1%   0.7508 0.7582