AUD/USD rallies to fresh two month highs, ahead of RBA interest rate decision – by christianborjon AUDUSD Majors UnitedStates PMI RBA
acted, warning that it would hold military exercises in the South China Sea from August 2 to 8, while some Chinese maritime administrations issued warnings prohibiting the entrance to the abovementioned sea.
In the Asian session, Australia’s Manufacturing PMI hit 55.7 as estimated, but below June’s 56.2. In the meantime, Australia’s TD-MI Inflation Gauge rose by 1.2%, further reinforcing the need for higherAnalysts at TD Securities said that most analysts expect the Reserve Bank of Australia to hike the cash rate by 50 bps. “We anticipate the RBA’s end ’22 headline CPI forecast to be around 7.5% y/y, exceeding the RBA Governor’s 7% target with trimmed clocking in around 5.75-6%.
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