| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 04:30 | Australia | Announcement of the RBA decision on the discount rate | | 4.35% | 4.35% | 4.35% |
During today's Asian trading, the US dollar rose moderately against major currencies, continuing yesterday's increase and retreating from the 14-month low reached last week.
The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) rose by 0.18% to 101.02, helped by higher yields on US Treasury bonds. Investors also continued to analyze yesterday's statements by Fed policymakers and PMI data, which strengthened confidence that the world's largest economy will be able to make a soft landing. Many Fed officials are scheduled to speak in the next few days, including its Chairman Jerome Powell, but the key event of the week will be Friday's publication of the personal consumption expenditure price index (the Fed's preferred inflation indicator), which may provide clues about the pace of further monetary policy easing.
The Australian dollar rose against the US dollar to its highest level this year, but then lost all earned positions. The catalysts for the growth of the Australian currency were the results of the RBA meeting, as well as the stimulus measures announced by the People's Bank of China, including the planned reduction of banks' reserve requirements by 50 basis points, signals of a possible further reduction in loan rates, as well as measures to support the real estate market. Australia's central bank kept its key interest rate steady at 4.35%, the highest level in 12 years, as widely expected by analysts. The decision, made by the Reserve Bank of Australia (RBA) under Governor Michele Bullock, reflects a cautious stance amid global shifts in monetary policy. The RBA also reaffirmed its determination to curb stubborn inflation.
The yen fell 0.6% against the US dollar after Bank of Japan Governor Kazuo Ueda reiterated that the central bank can "afford to spend time" studying developments in markets and foreign economies before tightening monetary policy even further.