Daily digest market movers: Australian Dollar sustains sell-off, markets await RBA's decision
- No significant highlights were detected from the Australian economy on Friday.
- Reserve Bank of Australia meets on Tuesday and is expected to keep rates steady at 4.35%.
- The RBA is expected to stick to its neutral policy guidance that the bank is not ruling anything in or out.
- Following the May 7 meeting, Governor Bullock confirmed that the board discussed the option of raising rates. This option will likely remain on the table as inflation doesn’t show signs of easing.
- Market fully projects in a cut at the February meeting.
- Market hopes for rate cuts have persistently clashed with the Fed’s rate cut expectations through 2024, and according to the CME’s FedWatch Tool, rate markets maintain over 60% odds of at least a 25 basis-point rate trim on September 18
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