Australian Treasury: CPI inflation to reach 2.5% target in 2025/26
Australian Treasury presented the Mid-year Economic and Fiscal Outlook (MYEFO) on Wednesday, with the key highlights noted below.
Source: fxstreet.com
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Australian Dollar moves sideways with a negative sentiment ahead of Fed decision
The Australian Dollar (AUD) continues to lose ground on Wednesday, particularly after the release of moderate Consumer Price Index (CPI) data from the United States (US).
Source: fxstreet.com
Senior Communist Party official: China should set its 2024 fiscal deficit at appropriate level
Han Wenxiu, deputy head of the Chinese Communist Party’s office for financial and economic affairs, said on Wednesday that “China should set its 2024 fiscal deficit and special local government bonds at appropriate levels and optimize the structure of fiscal expenditure.” “China should also keep consumer prices at a moderate and appropriate level, neither too low nor too high,” added Han.
Source: fxstreet.com
AUD/USD looks vulnerable near 0.6520 support ahead of the Fed
The Australian Dollar is looking weak after rejection at 0.6615.
Source: fxstreet.com
AUD/USD spikes back above 0.6660 as dovish Fed sends US Dollar tumbling
The AUD/USD is catching a firm risk-bid as markets surge higher following a dovish pivot to the Federal Reserve’s (Fed) policy stance; the Fed now sees at least three rate cuts in 2024, for a combined 75 basis points in rate cuts next year.
Source: fxstreet.com