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RBA set to defer bond taper – Bloomberg poll

7/28/2021 10:37:26 PM GMT | By Anil Panchal “Australia’s central bank is likely to push back its planned taper of bond buying, just four weeks after announcing it, as prolonged lockdowns triggered by the delta virus variant look set to send the national economy back into reverse,” per Bloomberg’s latest poll of 18 economists. Key quotes (from Bloomberg) Thirteen of 18 economists polled by Bloomberg expect the Reserve Bank will delay its planned reduction in weekly purchases to A$4 billion ($3 billion) from A$5 billion at Tuesday’s meeting. The taper is currently due to begin in September and be reviewed a couple of months after that.

AUD/USD: Bearish consolidation continues below 0 7400 on Australia Q2 CPI

7/28/2021 1:46:40 AM GMT | By Anil Panchal AUD/USD eases from intraday top on despite firmer Aussie inflation figures. Australia’s Q2 CPI crosses QoQ forecasts, RBA Trimmed Mean CPI matches market consensus. NSW propels Aussie infections to 11-month top, extends covid lockdown in Sydney by four weeks. Market sentiment improves ahead of Fed, Aussie PM’s speech, covid updates also become important catalysts. AUD/USD seesaws around the intraday top, recently down to 0.7365, following the upbeat Aussie Q2 inflation figures amid early Wednesday. The risk barometers paid a little heed to the second-quarter (Q2) Consumer Price Index (CPI) data as markets await the US Federal Open Market Committee (FOMC) verdict, as well as Australia PM Scott Morrison’s response to the worsening coronavirus conditions at home.

US Dollar Index Price Analysis: Recovery moves battle 92 50 on the Fed day

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