AUD/USD Jittery Over China Property Rescue Plan -- Market Talk

Dow Jones05-29

1932 ET - AUD/USD is modestly lower from where it ended in the Asia session late Tuesday. It trades around 0.6650. Some volatility was introduced on reports that China's big cities cut downpayment ratios and mortgage rates for homebuyers. The easing of requirements comes amid the Chinese government's broad property rescue package announced earlier this month, including funding to help local governments to buy unsold homes from developers. However, it is uncertain whether these measures will move the needle on the property sector, says Carol Kong, currency strategist at CBA. That said, a quicker stabilisation in property market activity is an upside risk to iron ore prices, and by extension, AUD/USD, she adds. Looking ahead. Australian April CPI data at 0130 GMT could see the pair spike if inflation prints higher than the 3.4% on-year rate expected by economists, Kong says. (james.glynn@wsj.com; @JamesGlynnWSJ)

(END) Dow Jones Newswires

May 28, 2024 19:32 ET (23:32 GMT)

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However, it is uncertain whether these measures will move the needle on the property sector, says Carol Kong, currency strategist at CBA. That said, a quicker stabilisation in property market activity is an upside risk to iron ore prices, and by extension, AUD/USD, she adds. Looking ahead. Australian April CPI data at 0130 GMT could see the pair spike if inflation prints higher than the 3.4% on-year rate expected by economists, Kong says. 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It trades around 0.6650. Some volatility was introduced on reports that China's big cities cut downpayment ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CFA.SI","symbol_name":"NikkoAM-STC Asia REIT","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2439558526","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2439558526","pubTimestamp":1716939120,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1932 ET - AUD/USD is modestly lower from where it ended in the Asia session late Tuesday. 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