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Australian House Price Index climbs

Written by Sam Coxhead on February 1st, 2011.      0 comments

1:40 PM (NZT) The Australian House Price Index jumped +.7% on the quarter against an expectation of of being flat (0.0%). With the data coming from samples of the eight Capital cities, this can be read as being a positive indicator of consumer sentiment. The market had little reaction as one would expect ahead of the RBA cash rate announcement and statement in just under three hours time.

Meanwhile the EURO and GBP have continued to rally in early Asian trade. The GBP obviously tripped a load of STOP LOSS orders heaped around the 1.6025 level , because as soon a it touch the level , it rapidly was paid upto 1.6065 before easing back to the mid 1.6050s.
 

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