Australia House Price Index

Actual -0.3%, Expected -1.1%, Previous 0.4% (Revised down from 1.1%)

Release Explanation: The preliminary estimates show the price index for established houses for the weighted average of the eight capital cities decreased –0.3% in the June quarter 2008. While over the past year to the June quarter 2008, preliminary estimates show that the price index for established houses for the weighted average of the eight capital cities rose 8.2%

Trade Desk Thoughts: This report tracks changes in housing prices in Australia 's eight provincial capital cities: Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart, Darwin, and Canberra. The headline number is the weighted average percentage change from the previous quarter. Like any price index, the housing price indexes measure inflationary pressures, in this case specifically from the housing sector. The headline number is the quarterly percentage change in the index.

Forex Technical Reaction: While housing markets have been in the spotlight lately, this release has done little to move the Australian Dollar.

The LFB-Forex.com