AUSTRALIA HOME AUCTION CLEARANCE RATE SINKS TO 49%

Australia's combined capital city auction clearance rate fell to 49.1% in the week ending September 20, down from 71.6% a year earlier, according to property data firm Cotality. The decline follows three Reserve Bank of Australia rate hikes this year that lifted the cash rate to 4.35%, cutting how much buyers can borrow. Sydney's clearance rate dropped to 46.2%, its lowest level since early August. The slowdown adds pressure on $EWA, the ETF tracking Australian equities exposed to this housing-driven economy.