Intra-Day Market Moving New and Views
24 Sep 2014 01:31GMT
AUD/USD -..... RBA releases Financial Stability Review:
'discussing with apra further steps to strengthen bank lending standards; APRA has already intensified supervision of mortgage lending;
composition of housing and mortgage market becoming "unbalanced";
bank competition driving strong rise in loans for housing investment; speculative demand could amplify house price cycle, risk eventual sharp reversal;
risks from housing cycle mostly macroeconomic, could become systemic if loan growth persists;
important that Australian banks do not loosen mortgage lending standards; overall lending standards have not eased as yet, but still might not be conservative enough;
strong investor demand for commercial property driving up prices, but risks modest so far;
Australian bank profitability remains robust, capital ratios rising and bad debts falling;
shadow banking only small fraction of australian market, poses little systemic risk;
indicators point to low levels of financial stress in household sector;
business lending by foreign-owned banks in Australia expanding at a fast pace;
rising concerns about asset quality in china amid slower growth, softer house prices.'
Wednesday will see the release of New Zealand's exports, imports and trade balance, Japan's Markit manufacturing PMI, Swiss UBS consumption indicator, German Ifo business climate, current conditions and expectations, U.S. new home sales.
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