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Australian New Home Sales at Highest Since 2010

Sales of new homes in Australia rose for a fourth straight month in April to reach their highest since at least 2010 as falling mortgage rates and the lure of rising house values drove demand. The Housing Industry Association (HIA) said its survey of large volume builders showed sales of new homes rose 0.6 percent …

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AUD/USD Drops Below 0.77 as Australian Capex Falls 4.4%

Australian business investment fell by 4.4 per cent in the March quarter, worst than economists’ forecasts of a 2.4 per cent fall. The closely-watched figures, released by the Australian Bureau of Statistics, cover investment in capital goods which includes such things as buildings and equipment. Businesses collectively expect to invest $149.946 billion on capital goods …

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RBA: Australian Housing Risk has Increased

The Reserve Bank warns lending controls on banks to reduce the heat in Australia’s property market could just drive buyers elsewhere for their loans.  Risky lending into an inflated market has been a consistent worry for the Reserve Bank’s rates strategy, though not enough to deter this month’s rate cut to a record low of …

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