China Consumer Stocks Near Decade Lows as AI Shares Surge 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Trump, Xi Focus on Trade and AI at White House Summit 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Trump to Ease U.S. Fuel-Economy Standards 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Add as a preferred source on Google
Australia's annual inflation rate for September 2024 stands at 2.1%, down from 2.7% in August, indicating the lowest inflation increase since July 2021. This decline is largely due to significant decreases in electricity prices, which fell by 24.1%, and automotive fuel prices, which dropped by 14.0%. Despite these reductions, some price categories have seen notable increases: food prices rose by 3.3%, alcohol and tobacco by 6.3%, health costs by 4.8%, and education expenses by 6.4%.
Analysts forecast that inflation could slightly rise to around 2.3% by the end of the current quarter, a critical factor in guiding the Reserve Bank of Australia (RBA) on future monetary policy decisions, including interest rates.
Following the release of the Consumer Price Index (CPI) data, the Australian Dollar (AUD) experienced a decline of approximately 0.16% against the US dollar, partly because the inflation figure was below market expectations of 2.3%. The currency had already been under pressure due to mixed economic indicators and concerns about US-China trade relations. Although the AUD/USD pair tested support levels around 0.6467, it recovered after initially dropping to 0.6433. The AUD's decline reflects market reactions to economic conditions and expectations regarding the RBA's monetary policy.
Major levels to watch -
Resistance- 0.6510,0.6550
Support- 0.6430, 0.6360
