Due at 0130GMT, Credit to the Private Sector for the month of August
- expected 0.5% m/m, prior 0.5%
- expected 5.5% y/y, prior 5.3%
Here is what ABC said:
- Today, AUD will be widely ignore the release of the Australia in the month of August, private sector credit report (11: 30 am Sydney). Instead, the AUD/USD will continue to be guided by the performance of iron ore prices and the USD
Tee hee …. yep.
Fear that the private sector credit data feels a little sad by this attitude, let me add …. Yes, it is relevant to the data of the good info, especially when you look at the real estate credit growth/non-growth and business credit growth/non-growth …. its just not going to have too much immediate impact on the AUD exchange rate, that’s all.
Here are a Westpac overview:
The private credit is expected to increase 0.4% in August to 5.4% more than a year ago. This results in a 0.46% increase in July and a 0.4% increase in the monthly average for the year to date. This reflects the balance of two opposite forces at the current time:
- Housing credit is expected to increase by 0.5%, 6.5% per year. There is a gradual emergence of a slowdown after a tightening of credit conditions. The 3-month annualized pace makes it easier to 6.0%, down from 6.8% in March. In particular, the total value of housing finance rose 15% in the year to January, but has been stalled since
- Credit business has emerged from a soft spot to record a robust growth of the end. We expect a gain of 0.4%, bringing the 6-month annualized pace of 5.3%, while the annual growth will be about 4.5%. Commercial finance has rebounded since February, a trend of 15%, and business investment has turned around the decline of modest gains