The Australian dollar fell to around $0.652 on Monday (November 17) after the US dollar strengthened sharply. The greenback's strengthening occurred because several Fed officials began to doubt the need for a December interest rate cut, with some even rejecting the possibility outright. The market, which previously estimated a 25 bps cut at nearly 88%, has now lowered it to around 46%. This global sentiment has also put pressure on the AUD.
Domestically, Australian investors have also begun to lower their expectations for interest rate easing by the RBA. Stronger-than-expected employment data has led the market to believe there is no reason for the RBA to cut interest rates this year. In fact, the chance of a rate cut in May 2026 has plummeted from nearly 70% to around 43.9%. Market attention is now focused on the RBA's meeting minutes, which will be released tomorrow-and this is what has investors wondering: will the RBA remain hawkish, or start opening the door to policy changes? (az)
Source: Newsmaker.id
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