U.S. housing starts likely to have slowed slightly in September, residential construction to boost growth in Q3
EM Asian currencies likely to prop up as U.S. and China remain on track to reach a partial trade deal, says Scotiabank
China likely to maintain full year growth at 6.0 pct in 2019, unless GDP growth falls below 5.5 pct y/y in Q4, says ANZ Research
China’s CPI-PPI divergence widens to 4.2ppt y/y in September, shows negative correlation after 2016: ANZ Research
Swedish jobless rate remains unchanged at 7.4 pct in September, wage growth unlikely to pick up soon
Australia’s ANZ-Roy Morgan consumer confidence registers second straight weekly loss, inflation expectations stable
Australian bonds slump post RBA’s decision to stay pat; investors eye Governor Lowe’s speech
The Australian government bonds slumped Tuesday after the Reserve Bank of Australia (RBA) maintained its benchmark cash rate on hold at its monetary policy meeting held today.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, jumped 3 basis points to 2.62 percent, the yield on 15-year note surged 4 basis points to 3.04 percent and the yield on short-term 2-year traded 1-1/2 basis points higher at 1.69 percent by 04:40 GMT.
The BA held its benchmark cash rate at a record low 1.5 percent as widely expected, but noting the housing market presents challenges to policy. All 65 economists polled by Reuters predicted the central bank would maintain the cash rate at 1.5 percent at Tuesday's meeting.
"Conditions in the housing market continue to vary considerably around the country," Governor Philip Lowe said in a statement.
Meanwhile, the ASX 200 index traded 0.35 percent down at 5,923.50 by 05:00GMT, and the FxWirePro's Hourly AUD Strength Index remained highly bullish at 133.06 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex