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Australian Mortgage Approvals Drop by Most Since 2009

Australian home-loan approvals fell in May by the most in more than five years as the country’s banks tighten lending criteria. The number of mortgages approved for owners that occupy their home fell 6.1 percent in May from April, the largest drop since December 2009, according to government data released Friday. In New South Wales, …

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AUD/USD up to 0.7460 as Unemployment Rate Rises to 6%

Australia’s unemployment rate has risen slightly in June, albeit it from a downwardly revised May figure, as the number of new jobs in the economy increased marginally.  The unemployment figure rose to 6 per cent in June, after an increase in the number of unemployed people outstripped a slight rise in added job numbers over …

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TD Securities-Melbourne Institute: Australian Inflation Rises 1.5%

Inflation in Australia remains well below the Reserve Bank’s target but interest rates are not expected to be cut this week.  Inflation was 1.5 per cent in the 12 months to June, up from an annual rate of 1.4 per cent in May, according to the TD Securities-Melbourne Institute monthly inflation gauge. However TD rates …

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