The Australian Dollar dives after the RBA appeared to step back from aggressive tightening. The bank lifted the cash rate target by 50 basis points (bps) to 1.85% from 1.35%.
This is the passage that seems to have led the market to believe that the RBA may not be as hawkish as previously thought.
“The Board expects to take further steps in the process of normalizing monetary conditions over the months ahead, but it is not on a pre-set path. The size and timing of future interest rate increases will be guided by the incoming data and the Board’s assessment of the outlook for inflation and the labor market.”
CPI, a key data provider, won’t be forthcoming until late October. This means that the next two meetings could see the RBA step back from 50 bps hikes and potentially not change them at one or both meetings.
Australian 2Q CPI did not come in as hot as anticipated, allowing some breathing space for the RBA to avoid an overtly hawkish stance.
The Federal Reserve lifted rates by 75 bp last week to deal with 9.1% CPI, while the Bank of Canada hiked by 100 bp last month to combat 8.1%CPI.
Earlier in the day, Australian building approvals came in better than expected at -0.7% month-on-month for June against -5.0% anticipated and the previous month’s red-hot 9.9%.
Previous economic data has mostly been strong, with the June unemployment rate coming in at multi-generational lows of 3.5% against the 3.8% forecast and 3.9% previously.
Australia’s trade balance for June will be released on Thursday, and It is still unknown whether May’s blistering AUD 15.7 billion surpluses can be backed up with another solid number.
It seems the economic data needs to be very strong for the RBA to hike by more than 25 bps at either of their September or October meetings. AUD/USD went lower and may be pressured continuously if the situation stays the same.
This Post Has 21 Comments
Muchas gracias. ?Como puedo iniciar sesion?
buy prescription drugs from canada cheap: pharmacy canadian – cross border pharmacy canada
generic gabapentin: neurontin 300 mg capsule – neurontin tablets 100mg
lasix online: furosemide online – lasix generic
prednisone 60 mg tablet: prednisone 54899 – 1 mg prednisone daily
generic lasix: cheap lasix – lasix generic
farmacie online affidabili: Tadalafil generico migliore – comprare farmaci online all’estero
viagra pfizer 25mg prezzo: viagra farmacia – pillole per erezione in farmacia senza ricetta
acquisto farmaci con ricetta: Brufen 600 prezzo – migliori farmacie online 2024
farmacia online: Cialis generico 20 mg 8 compresse prezzo – farmacie online autorizzate elenco
top farmacia online: Farmacie che vendono Cialis senza ricetta – Farmacie online sicure
farmacie online sicure: Farmacia online piu conveniente – acquistare farmaci senza ricetta
farmacia online piГ№ conveniente: Farmacie che vendono Cialis senza ricetta – farmacie online sicure
migliori farmacie online 2024: farmacia online migliore – farmacie online autorizzate elenco
farmacia online madrid: gran farmacia online – п»їfarmacia online espaГ±a
farmacia online barata: comprar cialis online seguro – farmacias direct
sildenafilo cinfa precio: viagra precio – viagra online cerca de bilbao
viagra online cerca de toledo: viagra generico – venta de viagra a domicilio
casibom giris: casibom guncel – casibom guncel
casibom 158 giris
Rastreador de celular – Aplicativo de rastreamento oculto que registra localização, SMS, áudio de chamadas, WhatsApp, Facebook, foto, câmera, atividade de internet. Melhor para controle dos pais e monitoramento de funcionários. Rastrear Telefone Celular Grátis – Programa de Monitoramento Online.
Melhor aplicativo de controle parental para proteger seus filhos – Monitorar secretamente secreto GPS, SMS, chamadas, WhatsApp, Facebook, localização. Você pode monitorar remotamente as atividades do telefone móvel após o download e instalar o apk no telefone de destino.