housing

Aussie Sold Aggressively Post Shocking RBA Rate Decision; Euro Still Bid

– RBA shocks markets and cuts by 50bps to 3.75% – Decision surprising given RBA track record – Aussie sold aggressively across the board in response – UK manufacturing PMIs disappoint; weighs on Pound

Housing Starts Disappoint

March Housing Starts fell to 654K units annualized from February’s 694K. Traders were looking for an increase to 705K units annualized.