Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Australia’s consumer inflation held steady in April, as rising health and travel costs offset falling petrol prices, reinforcing expectations for future interest rate cuts. The Australian Bureau of Statistics reported a 2.4% year-on-year increase in the consumer price index (CPI), matching March’s reading and slightly above the 2.3% forecast.
Core inflation also edged higher, with the trimmed mean rising to 2.8% from 2.7%, and a measure excluding volatile items and holiday travel also climbing to 2.8% from 2.6%. Despite the uptick, all metrics remained within the Reserve Bank of Australia's (RBA) 2–3% target range.
Markets showed a muted response, as the monthly CPI covers only a partial basket—primarily goods, not services. Goods prices increased just 0.9% year-on-year. The Australian dollar held steady at $0.6440, and three-year bond futures were flat at 96.60.
EY chief economist Cherelle Murphy noted that the data is not a full reflection of broader price pressures, adding that the RBA may continue easing policy amid diminished inflation risks and ongoing global uncertainty.
Interest rate futures show a 65% chance of a rate cut at the RBA’s July meeting, with expectations rising further for August after the release of Q2 CPI data.
Last week, the RBA cut rates to a two-year low, citing subdued inflation and global trade concerns. Meanwhile, Australia’s job market remains resilient with the unemployment rate at 4.1%, though modest wage growth limits inflationary pressure.
In April, health costs rose 4.4%, driven by insurance premium hikes, while holiday travel and accommodation surged 5.3%. Fuel prices dropped 12%, electricity fell 6.5% due to rebates, and rent growth slowed to 5.0%—its lowest rate since February 2023.
