The data from Australia is due at 0130GMT Wednesday 11 July 2018
- Home loans m/m, expected -2.0%, prior was -1.4%
- Investment lending m/m, prior was -0.9%
- Owner-occupied loan value m/m, prior was +0.2%
I posted earlier here:
This preview now via the folks at Westpac:
- After holding relatively steady through most of 2017 and early 2018, Australian housing finance approvals showed a notable pull back in recent months. The total number of owner occupier approvals declined a further 1.4% in April with the value of investor loans down 0.9%. Conditions were soft across most of the detail. Combined, the total value of approvals ex refi fell 0.4%mth to be down 5.8%yr.
- Industry figures point to a further decline in owner occupier approvals in May - we expect the official figures to show a 2.0% drop. Auction data showed a clear further weakening in the Sydney and Melbourne markets through May and early June. Some of this likely reflects tightening lending standards which may have had multiple effects including longer processing times for loan approvals, a higher decline rate for loan applications and reduced assessments of borrowing capacity. The May finance approvals should help confirm some of these aspects.
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ICYMI, this the mover of AUD this morning:
