The key issue is whether Governor Michele Bullock heeds market assessments that last week's unexpectedly weak third-quarter GDP is a game-changer for the economic and inflation outlook
The data showed Australia's economy grew at its slowest pace since 1991 — excluding the exogenous shock of the Covid pandemic.
And it confirmed that GDP growth is slowing much more than the 2012-13 slump — which came just after the RBA last started an easing cycle.
The RBA is widely expected to leave policy unchanged on Tuesday. However, the GDP figures prompted OIS traders to view February as a coin toss for a rate cut, rather than a near-certainty.
And the April 1 meeting is now seen as a 90% chance in exchange rates based on the meeting date, even though the move was fully priced in late last week.
Source: Bloomberg
The Australian dollar (AUD) held strong at the start of the week after strong Australian inflation data, while the US dollar weakened as market sentiment grew cautious due to the US-Greenland dispute....
The Australian Dollar is the best performer among major currencies in an otherwise calm start tobe the year. The Aussie appreciates nearly 0.5% against the US Dollar in the daily chart, so far, buoyed...
The Australian Dollar (AUD) continued to strengthen against the US Dollar (USD) on Wednesday, posting gains for the third consecutive day. The AUD's strength was driven by the release of the Reserve B...
The AUD/USD currency pair is currently in a bullish consolidation phase, a brief pause in its uptrend, and is hovering around the 0.6600 level during the Asian session on Friday (December 5th). This l...
The Australian Dollar (AUD) rose and reached a three-week high against the US Dollar (USD) during Wednesday's Asian session. This rise occurred despite less-than-satisfactory Australian economic data....
Gold prices briefly caused a stir after hitting a new record, but then slowed. The main trigger: US President Donald Trump withheld the threat of tariffs on Europe and claimed there was a "framework" for a future agreement on Greenland. This calmer...
Oil prices were little changed in Asian trading on Thursday after US President Donald Trump backed down from a threat to impose tariffs on European countries over Greenland. This decision helped ease geopolitical tensions and improve market...
The Nikkei 225 Index climbed 1.73% to close at 53,689, while the broader Topix Index rose 0.74% to 3,616 on Thursday, snapping a five-day losing streak as Japanese shares were lifted by a strong rally in chip and artificial intelligence related...