EUR/USD
1.15412
-0.002%
Gold
4371.51
0.080%
Oil
82.329
0.175%
USD/JPY
159.290
-0.005%
GBP/USD
1.35084
0.009%
GBP/JPY
215.189
0.008%
Real-time News
National Australia Bank: We still expect the Reserve Bank of Australia to keep the cash rate unchanged for the remainder of 2026, and the first rate cut is still expected to take place around mid-2027.On August 12th, Westpac Chief Economist Luci Ellis stated that the Reserve Bank of Australias (RBA) decision to keep interest rates unchanged was in line with market expectations, but the change in its policy guidance is more noteworthy than the rate decision itself. Westpac believes that the RBAs statement that it is prepared to raise rates "only if upside risks to inflation materialize" is clearer than the broader "if necessary" wording used in the May meeting. Even without explicit statements, the RBA has effectively lowered its rate hike expectations. Westpacs base case has shifted to maintaining interest rates unchanged until the middle of next year. This view is based on inflation and labor market data, both of which are lower than the RBAs May forecasts. Nevertheless, Westpac cautiously describes this as a "hawkish pause" rather than a "loosening of interest rate controls." Further rate hikes are still possible for the remainder of the year, although less likely, depending primarily on the transmission effects of energy-related costs and developments in the Middle East.Japans Reuters Tankan Manufacturing Sentiment Index for August was 18, down from 13 in the previous month.Japans Reuters Tankan non-manufacturing business sentiment index for August was 28, down from 25 in the previous month.August 12th - According to a senior economic advisor and a former government official, US President Trump is seeking new policy promises to demonstrate to voters before the midterm elections, including potential calls for Congress to cut capital gains taxes and establish exemptions for certain home sales. White House National Economic Council Director Hassett said on Tuesday that Trump wants to introduce more incentives to garner voter support for the Republican Party in the November election. Kudlow, who served as director of the National Economic Council during Trumps first term and remains a Trump ally, said he recently discussed a "capital gains tax inflation indexation" proposal with Trump, adjusting for inflation before taxing capital gains. Kudlow also suggested exempting home sales of $2 million or less from capital gains tax, stating that "the boss (Trump) is very interested in this."
