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Forex Flash: Australia housing market revival suggest rates are supporting the sector – NAB

FXstreet.com (Barcelona) - As latests data shows, house prices rose all across Australia: “There’s enough in signs of the housing market’s revival to suggest to the RBA that rates are beginning to support the sector,” analysts at the NAB say, adding: “These gains are another sign that mortgage lending rates are supporting the housing re-sale market and housing buyer confidence,” the bank notes.

From NAB: “We’ll get a better idea of new home sales with the release tomorrow of the HIA new home sales report for February.”

Commodities Brief: Almost everything lower but Gold

Weak day for commodities overall Monday but Gold, that trades above the $1.6k last, despite the fact USD is also down across the board. Iron ore has also recovered from late March lows by the 38.2% Fibo retrace of 88/160 daily up leg at around $133 mark, last slightly above $138, dragging Aussie also higher ahead of RBA meeting in few minutes from now. US SP500 index also showed weakness closing at -0.45%, while US 10 year note yields kept pressing the 1.83% level on some risk-off move across the markets.
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