The Aussie has been relatively weak recently and one of the key reasons for that is clearly property price pressures.

But in some good news, we’ve just seen new data out on home loans and it looks like there are some new loans getting written at the moment, which might just help spur things a bit. The result was +2.0% MoM vs -2.0% exp.

Falling property prices have hurt confidence and much of the falls recently have been on the back of tightening credit conditions. So this is a bit of a change from the trend.

Is the bottom in for now? I would highly doubt that, but it is worth noting this data release given what has been going on recently.

The AUD/USD is a little lower on the session, but it is another quiet day in Asian trade so far.