Global macro overview for 22/09/2015:
The house price index in Australia released earlier today showed big increase in house prices. The market expected a 2.5% q/q (8.0% y/y) increase from 1.6% q/q (6.9% y/y) last quarter, but the actual reading was 4.7% q/q (9.8% y/y). This means increasing inflationary pressure in the economy of Australia, which in its return applies pressure on the RBA's decision about the interest rates in the near future.
The AUD/USD pair reversed from the resistance area between the levels of 0.7234 and 0.7284. Now it is heading back into the golden channel. First important daily support comes at the level of 0.6905.
