ANZ Macro Daily(Beta Mode)
RBA Hike Looms as Housing Slump Deepens
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| ASX 200 | 9,029.70 | +0.10% |
| NZX 50 | 13,973.62 | -0.18% |
| AUD/USD | 0.69 | -0.24% |
| NZD/USD | 0.56 | +0.50% |
| AUD/NZD | 1.23 | -0.75% |
| BHP | 57.62 | -2.34% |
| Gold | 4,112.20 | +0.92% |
| Brent Crude | 93.58 | -4.82% |
| Bitcoin | 74,578.55 | -0.01% |
| Australia 2Y Govt Yield | 4.83% | 0 bp |
| Australia 10Y Govt Yield | 5.08% | -1 bp |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Mortgage Lending Rate (New Borrowers, 1Y Fixed) | Type: macro_line | Mortgage Lending Rate (New Borrowers, 1Y Fixed): 1.84 (2026-11-05) | Range: 1.31–2.81 | Trend(5pt): 2.62,1.81,1.69,1.52,1.84
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Westpac Consumer Confidence Change | -4.70 | - | 18:30 |
| Westpac Consumer Confidence Index | 80.40 | - | 18:30 |
| NAB Business Confidence Index | -13 | - | 19:30 |
- Australia's housing downturn intensifies as markets brace for another RBA rate rise, with Westpac consumer confidence and NAB business confidence due today
- NZD slumps to 24-year lows, prompting talk of RBNZ verbal intervention; NZ election delivers knife-edge result with incumbent clinging to power
- Brent crude plunges 4.82% to $93.58 while gold rallies 0.92% to $4,112; BHP falls 2.34% on commodity weakness
Yesterday's Recap
No ANZ data releases were scheduled for Sunday, 8 November, leaving markets to digest Friday's price action. The ASX 200 edged up 0.10% to 9,029.70, with mining and energy stocks offsetting broader weakness despite BHP's 2.34% decline to $57.62. The NZX 50 slipped 0.18% to 13,973.62 as New Zealand's knife-edge election outcome weighed on sentiment.
AUD/USD weakened 0.24% to 0.69 while NZD/USD gained 0.50% to 0.56, though the kiwi remains near 24-year lows against the dollar. AUD/NZD fell 0.75% to 1.23 as the cross compressed. Australian bond markets were steady, with the 2-year yield unchanged at 4.83% and the 10-year easing 1 bp to 5.08%.
Brent crude's 4.82% collapse to $93.58 underscored demand concerns, while gold's 0.92% gain to $4,112 reflected safe-haven flows.
The Day Ahead
Australia's Westpac Consumer Confidence Change for November releases at 18:30 ET, with the prior reading showing a 4.7% decline, alongside the Westpac Consumer Confidence Index previously at 80.4. The NAB Business Confidence Index follows at 19:30 ET, with the previous print at -13, a deeply negative reading that underscores corporate caution. These releases will be closely watched for signs of whether aggressive RBA tightening is crushing household and business sentiment.
In New Zealand, attention shifts to tomorrow's RBNZ Financial Stability Report and Press Conference, which will frame the central bank's view on housing risks and financial system resilience.
Other Economic Notes
Australia's housing slump is deepening as the RBA prepares another rate rise, with the wealth effect now unwinding at the fastest pace in 40 years according to industry commentary. Bank earnings have painted divergent pictures of borrower health—one major lender increased loss provisions while another held steady, suggesting stress is unevenly distributed. The Albanese government faces pressure on budget strategy, with RBA commentary warning against sharp spending cuts that could compound the slowdown.
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