ASX Market Update.
I've been watching this closely. Mutliple channels being formed and breaking down. Today the 
AUD broke the 0.72 support level. House prices have dipped 6.1% this year and the cash rate was kept at 1.5%.
I believe we will see 6000 soon. Hoping that will hold, otherwise the blue box is the target. As stated in my related idea, interest only loans are about to mature. With the current climate of our economy, families and investors may find it difficult to pay and close off their loans.
"Around two-thirds of interest-only loans in the Reserve Bank's Securitisation Dataset are due to have their interest-only periods expire by 2020 (Graph 4).[10] That is consistent with interest-only periods typically being around five years. Only a small share of loans have interest-only periods of 10 years (or longer), with very few loans on these terms having been written (and securitised) since 2015." (rba.gov.au/speeches/2018/sp-ag-2018-04-24.html)<< Great article about the current situation.
Of course, they can refinance their loan, but doing so, with the current uncertainty of the economy, may be too much risk to handle.
Things do not look great for the Australian Economy.
AUD broke the 0.72 support level. House prices have dipped 6.1% this year and the cash rate was kept at 1.5%.I believe we will see 6000 soon. Hoping that will hold, otherwise the blue box is the target. As stated in my related idea, interest only loans are about to mature. With the current climate of our economy, families and investors may find it difficult to pay and close off their loans.
"Around two-thirds of interest-only loans in the Reserve Bank's Securitisation Dataset are due to have their interest-only periods expire by 2020 (Graph 4).[10] That is consistent with interest-only periods typically being around five years. Only a small share of loans have interest-only periods of 10 years (or longer), with very few loans on these terms having been written (and securitised) since 2015." (rba.gov.au/speeches/2018/sp-ag-2018-04-24.html)<< Great article about the current situation.
Of course, they can refinance their loan, but doing so, with the current uncertainty of the economy, may be too much risk to handle.
Things do not look great for the Australian Economy.
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