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The RBA left rates on hold in August as we expected, but their rhetoric and view of aggregate demand were surprisingly hawkish. Given the Board apparently does not see its way to cutting rates this year, our expectation of a November rate cut is unlikely to be achieved. Our rate forecasts are under review while […]

The post RBA on Hold, But Hawkish Amongst Market Whiplash appeared first on Action Forex.

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08/04/2024

SPX 500: Fed Dovish Pivot Narrative is at Risk

Higher oil prices have led to higher inflationary expectations in the US via the breakeven rates. Recent rise in inflationary expectations coupled with recent “less dovish” Fed Speak from Fed officials Kashkari, and Bostic has revived the “higher for longer” interest rates environment. Higher commodities prices led by oil may see an uptick in US […]
15/08/2024

Australian Dollar Rises on Strong Job Growth

The Australian dollar is in positive territory on Thursday. AUD/USD is trading at 0.6607 in the European session, up 0.16% on the day at the time of writing. Earlier, the Aussie rose as high as 0.6633 (0.48%) before retracting. Australian job growth jumps but unemployment rises The Australian employment report for July was an interesting […]
18/06/2024

RBA More Alert and Less Certain in its Inflation Fight

The RBA left the cash rate on hold at 4.35%, but their rhetoric suggests the Board is more alert to upside inflation risks. Indeed, the RBA Board appears less certain that inflation is moderating as they’d like and there’s lingering concerns about persistent price pressures. The Reserve Bank left the cash rate unchanged at 4.35% […]