Aussie higher after RBA Minutes and House Prices figures

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Tuesday, Dec 15 2015

Aussie was pushed higher overnight with RBA Meeting Minutes and House Prices figures being released. The minutes of the Reserve Bank of Australia's December meeting noted there was still scope to ease further from a record low 2.0% with inflation levels offering room. The Australian dollar lifted overnight after oil prices rose on a short-covering come-back and commodities bounced to new record lows with key iron ore posting a gain, showing signs it is responding to news that Chinese smelters are being cut back, IG market strategist Evan Lucas said.

The price index for residential properties for the weighted average of the eight capital cities rose 2.0% in the September quarter 2015. This was in line with market expectations. The index rose 10.7% through the year to the September quarter 2015. The total value of residential dwellings in Australia was $5,859,824.6m at the end of September quarter 2015, rising $137,125.0m over the quarter.

Aussie is currently being traded around 0.7250 area. Pair is likely to find support around 0.7180 handle and resistance above 0.7280 level. Later today, in the US session, CPI and Empire State Manufacturing Index figures are scheduled for a release.

More in this category: « Eurozone Industrial Production rose by 0.6% UK CPI increased in line with market forecasts »

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