Australia’s mortgage lending declined in November 2014, Market Leader reports with reference to the official Australian sources. Despite the overall lending reduction, the amount of those mortgage borrowers who do it for the first time increased over the reporting period.
The amount of mortgage agreements decline by 0,7% in November according to the Australian Bureau of Statistics. The figures turned out to be 0,2% below October’s stats as well as well below the 2,0% forecast.
The total amount of funds lent for mortgage purposes also decline over the reporting period. This time, the decline was 2.2% month over month, which is way below October’s increase by 0,5%. With a glance at seasonality, mortgage lending doped by 1%.
At the same time, the Australian Bureau of Statistics reports that the share of first-time mortgage lenders increased from 11,4% up to 11,6% over the same reporting period.
AUDUSD
As usual, Masterforex-V Academy helps us define the current situation as well as the near-term prospects of multiple currency pairs, including AUSUD. According the experts, the Aussie is currently forming a bearish wave against the U.S. Dollar. In particular, this is wave 3/C of level Daily4 or higher.
The currency pair is currently trading within the cope of wave. With that said, a break above the 0.8032 high will show us the start of wave 5 or sub-wave inside the «Hound of the Baskervilles» pattern by Elder/MF. The closest levels of support are 0.7982, 0.7945. A break above the top of the descending MF sloping channel and pivot 0.8722 will complete the bull market and start an uptrend.
