Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
New Zealand’s REINZ data for April continue to point to a broadly stable housing market. National sales volumes were pretty flat both month-on-month and versus a year ago. House prices barely moved versus March (sa). Annual house price inflation is running at 3.9 percent y/y (3-month m.a.), supported by regional prices (6.9 percent ex-Auckland).
Sales rose 0.2 percent in April (seasonally adjusted), failing to bounce back from a 3.8 percent fall the previous month. Nationwide housing market activity is broadly stable, at 0.6 percent y/y (3-month m.a.).
The time to sell a property was unchanged at 37 days (sa) nationwide. This is below the historical average in every region except Auckland, pointing to some continuing tightness in regional markets.
National house prices are stable. Our preferred measure of house prices – the REINZ House Price Index (HPI) – fell 0.1 percent m/m in April (sa) and is up 3.9 percent y/y (3-month m.a.), unchanged from March.
"We expect house price inflation will continue to moderate at the national level. The market is unlikely to take off due to affordability constraints, credit headwinds and new Government policies. Regional divergence is likely to continue, unwinding some of the Auckland outperformance seen over much of the cycle," ANZ Research commented in its latest report.
Lastly, FxWirePro has launched Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
