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Aussie little changed in the morning part of the session

Wednesday, Mar 25 2015
PAussie is being little changed as there are no major data releases from Australia. Earlier, this morning RBA released it Financial Stability Report. According to the repot housing has picked up on record-low interest rates and that current owners have more cash to spend. Lower mortgage rates following a cut to the central bank's cash rate to a record low 2.25% in February are expected to boost housing demand further, the Reserve Bank of Australia said.
 
There was no strong language on housing-market risk in the review but it reiterated the need to monitor this to ensure existing risk in the mortgage market doesn't worsen. Indicators of household stress are currently at low levels but could start to increase if labor-market conditions weaken further than currently envisaged," the RBA said.
 
Aussie is currently being traded few points above 0.7870 level. Pair is likely to find support around 0.78 handle and resistance above 0.7930 area. Later today, in the US session, Durable Goods Orders figures are scheduled for a release.
More in this category: « New Home Sales at an annual rate of 539,000 German Business Climate reached its highest level since July 2014 »

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