Forex Flash: Weak demand in Australian housing; RBA more to do - NAB

Today's only Australian data on the value of Housing Finance Approvals fell 2.6% in December, after the 0.8% fall in November, with owner-occupied values fell 2.7% in December and investor approvals down 2.4%, while first home buyer activity at 8½ year low, notes Spiros Papadopoulos, senior economist at NAB, who thinks it was !overall a soft report that suggests still weak demand in the housing sector, thus RBA has more easing to do..." he said.

Feb 11, 2013

Forex Flash: AUD vulnerable to a carry unwind like in 2008 - HSBC

The AUD has experienced a difficult start to 2013, with the currency one of the main casualties of the normalisation process and the revival in EUR enthusiasm, says the HSBC FX research team.

Session Recap: Yen strength extends; Euro below $1.34

In a very slow Asian session, which was characterized by the closure of key financial centres in China, Hong Kong, Singapore (Chinese new year celebration) and Japan (foundation day), currency movements were choppy and erratic on twilight trading conditions. The Japanese Yen stood at the leader of the G10 pack following Friday's great performance - with Japan's Aso headlines still resounding - , while the Aussie was the main laggard on poor housing data.