RBA Lowe: Worries about the housing supply as the population grows

Reserve Bank of Australia’s governor, Philip Lowe expects rising rental pressure over the next year and he worries about the housing supply as the population grows. He said demand is too strong relative to supply.

Additional comments

Fiscal settings not noticeably impacting monetary policy.
Unsure about the labour market, price response to supply shock.We have better chance than many of pulling off an economic soft landing.

AUD/USD update

The bulls need to commit at the 0.6700 area following failures at 4-hour resistance near the neckline of the M-formation.