China Housing Curbs To Pressure Aussie -

China Housing Curbs To Pressure Aussie

Jun 28, 2018Jeremy ParkinsonFinance0

China may import less due to its property markets’ new regulation, short AUD/USD?

Chinese regulator will start a special campaign against property market speculations, unlicensed real estate agencies, developers’ violations and false advertising.

30 cities including Beijing and Shanghai will be involved in the 6-month operation starting from early July.

Regulators are cracking down on violations including manipulation of home prices, rent, property hoarding and non-compliant loans that are used to fund down payments.

Shanghai stocks dropped more than 1% today after the news was released.

Furthermore, China’s expansion seems to have slowed down this month, underscoring the fragility as the next wave of tariffs in the trade dispute with the US approaches.

AUD/USD may fall below 0.73 in coming weeks.