- The Reserve Bank of Australia held its rates steady at 4.35% for a sixth consecutive session last week, noting that "the board is not dismissing any possibilities."
- The Bank underlined the significance of remaining vigilant toward potential inflation threats, implying a reluctance for hasty policy changes.
- Meanwhile, Westpac analysts have shifted their forecast for the first rate cut from November 2024 to February 2025. Hence, the RBA's hawkish posture is likely to bolster the AUD in the near term.
- Investors anticipate further clues from Chinese Retail Sales and Industrial Production figures coming Thursday. Additionally, Australian Wage data from Q2 and Westpac Confidence figures from July, to be released during the upcoming Asian session, will hold the market's attention
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