China home prices ticked up 0.58% in August

Dhwani Mehta FXStreet

The latest housing data published from the world’s second-largest economy, China, showed that the home prices remained almost unchanged on the month, adding to the China slowdown fears.

Key Details:

All China Aug new home prices +0.5% m/m.

All China Aug new home prices +8.8% y/y.

This marks the slowest increase since February.

A slew of government curbs and a broader slowdown in the economy have weighed on the property market.

The above bearish data adds to the ongoing selling momentum seen around the AUD/USD pair, as the prices breach the 0.6850 barrier following dovish RBA minutes.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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