The Australian Dollar (AUD) extends its losing streak against the US Dollar (USD) for the fifth consecutive day on Friday. The AUD/USD pair depreciates due to tariff threats from US President Donald Trump against China. Investors await more clarity from Trump's tariff policies.
ANZ, CBA, Westpac, and now National Australia Bank (NAB) all anticipate a 25 basis point (bps) rate cut from the Reserve Bank of Australia (RBA) in February.
Previously, the NAB had forecasted a rate cut in May but has now moved its projection forward to the February RBA meeting.
Easing inflationary pressures toward the end of 2024 have fueled speculation that the Reserve Bank of Australia could consider a rate cut in February.
The RBA has maintained the Official Cash Rate (OCR) at 4.35% since November 2023, emphasizing that inflation must "sustainably" return to its 2%-3% target range before any policy easing.
Source: FXStreet
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