Digital Finance Analytics is expecting house prices in Sydney and Melbourne to dive by 8 per cent in 2022, despite predictions from the big banks of a double-digit surge in values next year.
AUD/USD May Track Higher Following Housing Data, RBAâs Financial Stability Review 2021-04-08 23:00:00 Thomas Westwater, Analyst
AUD/USD, Fed Chair Powell, Covid, RBA -Talking Points
Wall Street climbed as volatility sinks alongside trading volume
RBA’s Financial Stability Review and Australia Housing data in focus
AUD/USD takes aim at trendline resistance after H&S neckline bounce
The Nasdaq 100 index climbed 1.04% on Thursday, bringing the technology-heavy index within 1% of its all-time high set back in February. Market-based volatility dropped to its lowest point since February of last year, with the VIX index dropping to 17.0 amid low trading volume. Elsewhere, the safe-haven US Dollar weakened against most major peer currencies.
Asian equities are subdued
Asian markets mixed
Asian markets are mostly lower this morning despite a positive US session. Growth stocks, led by technology, powered higher after the Powell speech at the expense of cyclicals in New York as US yields fell. The S&P 500 rose 0.42%, with the Nasdaq powering 1.03% higher. Meanwhile, the heavily cyclical Dow Jones could only manage a 0.17% gain. US futures are only marginally higher in Asia.
Given cyclicals underperformed overnight in New York, it is no surprise that ASEAN markets are mixed today; however, several other factors are also at work. The Nikkei 225 is up just 0.22%, with gains also muted by an impending expansion of Covid-19 restrictions, likely to be announced today. Meanwhile, the Kospi has fallen 0.15%
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