Latest report shows residents of Australia is availing the benefits of lower rates from Reserve Bank of Australia (RBA), which is at record low of 2%. RBA has reduced rates twice this year so far and held policy steady since May.
- Credit card purchases totaled A$24.4 billion in August, compared to A$24.7 billion in July. This marks third consecutive decline, but still robust compared to A$22.4 billion a year earlier.
Strong domestic economy and relatively stable unemployment rate has given some confidence to RBA to pause rates at a time when decline in commodity prices, such as iron ore, coal has pushed Australia's mining industry and exports to doldrums.
Recently commodity giant Glencore announced it will cut 535 jobs in Australia as it will shut down mines and reduce its zinc production by 500,000 tons.
However recent weakness in US payroll data after US Federal Reserve chose not to hike rates in September has pushed back rate hike expectations well into next year and provided boost to commodity prices as well as commodity currencies.
Australian Dollar is currently trading at 0.735, up from its recent low around 0.694.


Japan PM Sanae Takaichi Unveils Growth Plan as BOJ Independence Concerns Lift Bond Yields
Meta-backed research finds exposure to ‘untrustworthy’ social media is rare. The fine print is less reassuring
Eurozone Bond Yields Fall as Oil Slump Eases Inflation Fears Ahead of Central Bank Meetings
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure
BOJ Expected to Hold Rates Steady While Signaling More Hikes Ahead
Is Netanyahu’s star waning in Washington? His latest meeting with Trump suggests it may be
BOJ Rate Decision in Focus as Sticky Inflation, Weak Yen Shape USD/JPY and Nikkei Outlook
3 clinical-grade skincare creams you really shouldn’t buy online
Gold Shines on Oil Relief: Buy Dips at $4160, Targeting $4305 as Bullish EMAs Dominate
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 



