The Australian dollar stepped back on Tuesday after the country's central bank surprised by expanding its bond buying stimulus while also hardening its commitment to keeping interest rates on hold for three more years.
Global stock markets surged for a second day on Tuesday, spurred by increased optimism about more U.S. stimulus and the economic recovery, while retail investors retreated from GameStop and fleeting interest in silver, causing their prices to tumble.
By Reuters Staff
2 Min Read
SYDNEY, Feb 1 (Reuters) - Australian home prices reached an all-time high in January as four straight months of gains cleared the previous peak in 2017 led by outsized gains in regional markets as stay-at-home workers flee the cities.
The startling recovery from the COVID-19-led crunch of early last year has provided a much-needed windfall to consumer wealth and confidence, with the country’s housing stock already valued at A$7.2 trillion ($5.49 trillion) by September.
Data from property consultant CoreLogic out on Monday showed national home prices rose 0.9% in January, from December when they added 1.0%. Values were up 3.0% on the previous January.
Turkey's lira hit an over five-month high on Monday after positive manufacturing-sector data, while emerging market stocks bounced back from last week's losses as readings from China showed a continued economic recovery.