The Reserve Bank of Australia (RBA) board members decided to make no changes to the Official Cash Rate (OCR), leaving it at 4.10% at its August monetary policy meeting. developing story … In a knee-jerk reaction to the RBA decision, the AUD/USD pair dropped over 40 pips to test 0.6660. The pair is down 0.70% on the […]
Share: In a full version of its quarterly outlook report, the Bank of Japan (BoJ) said that “Japan’s core consumer inflation is likely to gradually slow toward year-end.” Additional takeaways Inflation likely to accelerate thereafter, though uncertainty on outlook. Uncertainty on overseas economic outlook very high with risks skewed to downside. Must be […]
Share: Gold price regains positive traction on Friday, though the upside potential seems limited. Looming recession risks, the worsening US-China relations lend support to the XAU/USD. The hawkish outlook by major central banks should cap any meaningful upside for the metal. Gold price attracts some buying during the Asian session on Friday and […]
Share: Federal Reserve is widely expected to raise its policy rate by 25 bps to 5.25-5.50%. Fed has been struggling to convince markets that they will raise rates at least twice more this year. US Dollar valuation could be significantly impacted by Chairman Powell’s comments. The Federal Reserve (Fed) is expected to raise […]
Share: Bank of England (BoE) Deputy Governor Dave Ramsden acknowledged that the Consumer Price Index (CPI) inflation has begun to fall significantly in the UK but noted that it was still “much too high,” per Reuters. Key takeaways “If there is evidence of more persistent pressures, then further tightening in monetary policy would be […]
New Zealand GDT Price Index below forecasts (1.9%): Actual (-1%) Source link
Share: People’s Bank of China (PBoC) set the USD/CNY central rate at 7.2054 on Friday, versus previous fix of 7.2098 and market expectations of 7.2423. It’s worth noting that the USD/CNY closed near 7.2489 the previous day. With this, the Chinese central bank’s onshore Yuan (CNY) rate defends the week-start pullback from the yearly top. […]
