EUR/USD
1.17712
-0.030%
Gold
3310.63
-0.727%
Oil
65.169
-0.710%
USD/JPY
144.825
0.182%
GBP/USD
1.36287
-0.164%
GBP/JPY
197.382
0.023%
Real-time News
On July 7, ING Bank said that it expects the Reserve Bank of Australia to cut the cash rate by 25 basis points to 3.6% at its meeting on Tuesday, as recent growth and inflation data have been weaker than expected. Australias headline inflation rate fell to 2.1% in May from 2.4% in April, close to the lower limit of the central banks 2-3% target range. In addition, the latest monetary policy statement of the Reserve Bank of Australia showed that the voluntary resignation rate fell and the focus of wage negotiations shifted to job security demands, which may slow wage growth more than currently expected. Considering that the downside risks to growth and inflation dominate, we will expand the expected interest rate cut in 2025 by 25 basis points, and the final value of the cash rate is expected to reach 3.1% by the end of the year. The global tariff situation has not yet dissipated, and the overall and core inflation have established a downward trend, and are expected to remain near the median of the 2-3% range in the next few quarters.The Federation of Indian Automobile Dealers Association (FADA): Passenger car retail sales in June increased by 4.84% year-on-year, and the country is cautiously optimistic about the short-term outlook. However, it is necessary to remain vigilant considering the shortage of rare earths, geopolitical tensions and the spillover effects of US tariffs.On July 7, the Reserve Bank of New Zealand may be temporarily suspending its one-year interest rate cut cycle. Most economists predict that the Reserve Bank of New Zealand will keep interest rates unchanged this week, while sending dovish signals to assess the effectiveness of economic recovery. The bank recently stated that interest rates have entered a neutral range, downplaying the urgency of further interest rate cuts and hinting that it may adopt a quarterly interest rate cut rhythm in the future, rather than adjusting at every policy meeting. It is worth noting that there were differences of opinion at the last interest rate meeting. Given that the current economic recovery momentum is still unstable, further interest rate cuts are still possible this year.Market News: Trump welcomed Netanyahu and expressed optimism about reaching an Israel-Hamas agreement "this week."On July 7, the 27th Senate election of the Japanese Diet was scheduled for voting on the 20th. The latest opinion poll conducted by Kyodo News from the 5th to the 6th showed that the opposition camp was more popular than the ruling coalition, and nearly half of the respondents hoped that the ruling coalition composed of the Liberal Democratic Party and the Komeito Party would not achieve the goal of more than half of the seats. The Japanese Senate is responsible for legislative review and government supervision. It has 248 seats. The term of office of members is six years, and half of them are re-elected every three years. This election will focus on 125 seats. In addition to 74 constituency seats and 50 proportional representation seats, there is also 1 by-election seat. According to Japanese media, the results of this Senate election will determine the fate of Shigeru Ishibas cabinet. If the ruling coalition wins less than 50 seats, Japanese Prime Minister Shigeru Ishiba may resign or reorganize the ruling coalition.
