Moody's: New Australian mortgage rules will help mitigate housing market risks

The US-based ratings agency, Moody’s Investor Service, came out with a latest review on Australia’s new mortgage rules implemented by the Australian Prudential Regulation Authority (APRA).

Key Quotes:

“Moody's Investors Service says that to the extent that the new mortgage rules implemented by the Australian Prudential Regulation Authority (APRA) cool growth in household debt and reduce mortgage risks, the measures are supportive of the sovereign's credit profile.”

“Nevertheless, household leverage in Australia (Aaa stable) will continue to rise from already elevated levels. High household debt, only buffered by limited liquid assets, would amplify the economic impact of a housing downturn.”

NZD/USD: Negative bias for the week ahead - Westpac

Imre Speizer, Research Analyst at Westpac, is switching from a neutral to negative bias for the week ahead, noting the US dollar has continued to firm

Fed’s Bullard: Fed may only need to do one more rate hike this year

St. Louis Fed President James Bullard is yet again on the wires, still speaking at a workshop-event in Melbourne. Headlines: Fed may only need to do