Consumer and business sentiment in Australia continues to deteriorate, dragging down the Australian Dollar amid recession fears
RBA maintains its hawkish stance with rate cuts unlikely in the near term despite global easing trends
China's trade data shows mixed results with strong exports but weak imports, indicating ongoing economic challenges
The AUD/USD declined by 0.10% to 0.6660 in Tuesday's session, impacted by weak Australian data and a steady US Dollar.
Amidst uncertainty in the Australian economy and concerns over persistent inflation, financial markets anticipate a modest interest rate cut of only 0.25% in 2024. This is in line with the Reserve Bank of Australia's (RBA) firm stance on inflation, which has led to a relatively hawkish outlook for monetary policy.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.