The Australian dollar weakened slightly on Thursday after strengthening in the previous session. The AUD/USD pair still has room to recover as the US dollar faces pressure following weaker-than-expected US PPI data, which reinforced expectations of Fed easing in September. Domestically, the AUD received support as solid Australian data reduced expectations for further interest rate cuts by the RBA. The swap market now rates an ~86% chance of the RBA holding rates this month. Australian Consumer Inflation Expectations rose to 4.7% in September from 3.9% in August, reflecting stronger...
Oil prices held steady on Thursday (September 11th) as concerns over weakening US demand and the risk of a wider oversupply were offset by concerns over attacks in the Middle East and Russia's war in Ukraine. Brent crude futures fell 13 cents, or 0.2%, to $67.36 per barrel at 07:29 GMT, while U.S. West Texas Intermediate crude futures fell 17 cents, or 0.3%, to $63.50. Benchmark crude prices rose more than $1 per contract on Wednesday following Israel's attack on Hamas leaders in Qatar the previous day and the mobilization of Polish and NATO air defenses to shoot down a suspected Russian...
The EUR/USD pair recorded a slight decline on Thursday (September 11th), trading at 1.1695, but remained within the previous day's narrow range at the start of the European session. Investors were reluctant to place directional bets, awaiting the outcome of the European Central Bank (ECB) monetary policy meeting and the release of the US Consumer Price Index (CPI) figures. The ECB is expected to maintain its monetary policy stance. Focus will be on President Christine Lagarde's press conference to see if the unfavorable trade deal with the US and the uncertain political situation in several...