Over the past few years there has been a major influx of Asian money coming into the country, which has helped to boost economic growth. However, this has also created a housing price boom as foreign investors continue to buy properties pricing out locals trying to join the ladder.

Last month we started to see a fall in house prices which could have a major knock on effect, with some analysts speculating that we may soon see an interest rate cut in Australia, depending on how on fast property prices start to fall.

Wage growth and consumer spending are likely to be the key indicators for the RBA, and they’re optimistic for both, however an interest rate hike is, at the moment something of a pipe dream. 

Australian economic data may once again be more of a focal point than global influencers so make sure you’re in contact with your trader if you’re looking for a movement either way. 

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