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Hello everyone, today XM Foreign Exchange will bring you "[XM Official Website]: The RBA lowered 25 basis points, beware of an unexpected CPI today." Hope it will be helpful to you! The original content is as follows:
In the early European session on August 12, the US dollar remained flexible against major currencies, and investors were preparing for the highly anticipated July Consumer Price Index (CPI) data. Earlier in the day, the ZEW survey - economic prosperity data for Germany and the euro zone will appear on the European economic agenda. In addition, several Fed policy makers will speak during the U.S. trading hours.
The Reserve Bank of Australia (RBA) announced that as widely expected, the policy rate was cut by 25 basis points (bps) to 3.6% after the August meeting. The RBA highlighted the uncertainty of the economic outlook in its policy statement and pointed out that the policy is well prepared to deal with international developments that may have a significant impact on economic activity and inflation. RBA President Michel Brock said their policies were forward-looking, assuming they could continue to lower interest rates. The Australian dollar/dollar remained under moderate bearish pressure, with European trading around 0.6500 in early trading on Tuesday.
The UK National Statistics Office announced on Tuesday that the ILO unemployment rate remained at 4.7% for the three months to June. During this period, employment changes were 239K, with wage inflation increasing by 5% year-on-year, as measured by average income excluding bonuses, the same as previous data. The GBP/USD did not react immediately to these data, last fluctuating below 1.3450.
U.S. President Donald Trump announced late Monday that tariffs on Chinese imports would be postponed by 90 days. Ministry of ehadb.cnmerce of ChinaChina will suspend the list of some U.S. ehadb.cnpanies on the unreliable entity list for 90 days and will suspend additional tariffs on U.S. goods for 90 days, it said earlier on Tuesday. U.S. stock index futures rose and fell in early European trading on Tuesday, with the U.S. dollar index stabilizing around 98.50 after a slight increase on Monday. The annual CPI inflation rate in the United States is expected to rise slightly to 2.8% from 2.7% in June.
Euro/USD fell about 0.2% on Monday, and it appeared that Europe had stabilized above 1.1600 in early trading on Tuesday.
The US dollar/JPY rose nearly 0.3% on Monday, closing higher for the second consecutive day. The pair consolidates sideways above 148.00 and begins the European session on Tuesday.
In terms of ehadb.cnmodities, gold prices are trading at $3,353, down nearly 1.6% on Monday after Trump announced that he would not impose tariffs on imported gold bars.
Oil prices rose slightly, and the market focused on the meeting between Trump and Russian President Putin on August 15, and the two sides will negotiate to end the Ukrainian war. The talks ehadb.cne after more pressure on Russia, and the United States may impose sanctions on Moscow if no peace agreement is reached.
Euro: Euro/USD remains trading within the range below 1.1698, and the intraday deviation remains neutral. The outlook has not changed, the correction starting from 1.1829 should have been ehadb.cnpleted, with three waves falling to 1.1390. Above 1.1698 will retest 1.1829. However, a breakout above the 1.1526 support will weaken this bullish view and lead to a further decline to 1.1390.
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