Australian data: July home loans -1.9% m/m (expected -1.0%)

Australia Home Loans for July -1.9% m/m

• expected -1.0% prior -3.0%

Invest Housing loans -0.1% m/m

• prior +1.3%

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The bigger news for AUD today is this:

• People's Bank of China to cut FX RRR from 6% to 4% from September 15

it sent AUD up (since retraced of course:

• AUD, NZD, JPY all higher following the PBoC FX RRR cut, the first since September 2022