The Australian dollar strengthened to around US$0.65 on Wednesday, hitting a one-week high. This strengthening occurred after higher-than-expected inflation data came out, further convincing the market that the Reserve Bank of Australia (RBA) will remain hawkish and not ready to ease interest rates anytime soon.
The first full monthly inflation data showed that price pressures remain high. Headline inflation rose to 3.8% in October, the fastest pace in seven months and above market expectations. More importantly, trimmed mean inflation—the RBA's favorite measure of underlying price pressures—also rose to 3.3%, again exceeding expectations. Previously, very strong quarterly inflation releases had already prompted the RBA to maintain a tight interest rate.
From a fundamental perspective, RBA Assistant Governor Hunter last week assessed that the labor market remains "overheated," with unemployment declining and wage growth remaining strong. This condition confirms that policy tightening is still being felt and supports the central bank's cautious stance. In the market, the chances of an interest rate cut before May of next year are currently considered very slim, and some analysts even believe the easing cycle is over. (az)
Source: Newsmaker.id
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....
The Australian dollar weakened against the US dollar on Monday (November 24th), ahead of the release of important inflation data due this week. The market is focusing on Australia's first "full" month...
Gold price rises on Friday, poised to end with weekly gains of nearly 4% as an employment report in the US was mixed, with the economy adding fewer jobs than projected. Still, the Unemployment Rate ticked lower, yet investors are still betting the...
Harga emas kembali menguat pada perdagangan terbaru setelah sempat tertekan, didorong oleh melemahnya dolar AS dan turunnya imbal hasil obligasi pemerintah AS. Investor kembali memburu emas sebagai aset lindung nilai di tengah ketidakpastian arah...
Silver is currently hovering around $77,430, likely awaiting triggers from the US dollar and yields. If the dollar strengthens, silver is usually resilient; if the dollar weakens, silver rises more easily.Fundamentals are still supported by safe...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next...
Geopolitical issues have heated up again after statements and political signals from the United States sparked speculation about a possible US...
The US seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one of which was sailing under a Russian flag, as part of...
Federal Reserve Vice Chair for Supervision Michelle Bowman outlined significant changes to bank supervision and regulation during a speech at the...