Forex Flash: Weak demand in Australian housing; RBA more to do - NAB

Today's only Australian data on the value of Housing Finance Approvals fell 2.6% in December, after the 0.8% fall in November, with owner-occupied values fell 2.7% in December and investor approvals down 2.4%, while first home buyer activity at 8½ year low, notes Spiros Papadopoulos, senior economist at NAB, who thinks it was !overall a soft report that suggests still weak demand in the housing sector, thus RBA has more easing to do..." he said.