ING cuts AUD/USD year-end target to 0.72, sees RBA hike as barrier to June lows
ING cuts AUD/USD year-end target to 0.72, says an RBA hike should prevent a retest of the 0.69 June lows.
ING cuts AUD/USD year-end target to 0.72, says an RBA hike should prevent a retest of the 0.69 June lows.
NAB expects the RBA to hike 25bp to 4.60% and warns that while this may support AUD near-term, Australia could be among the first G10 central banks to cut.
Asia calendar for Sept 29, 2026 is quiet; RBA expected to raise rates by 25 bps.
Markets expect the RBA to lift the cash rate to 4.60% tomorrow, with traders focused on guidance and August CPI for the next move.
Almost all economists expect the RBA to raise rates to 4.60% on Tuesday, the highest since 2011.
Australia's jobless rate hit 4.6% in August, the highest since 2021, as participation jumped and employment rose 39,500.
NAB forecasts Australia's unemployment rate edging down to 4.4% in August, with employment rising by 20,000.
CBA forecasts Australia added 15,000 jobs in August, with unemployment steady at 4.5%, below the market consensus of 20,000.
Australia's August employment is expected to rebound by ~20k, with unemployment holding at 4.5%, ahead of the RBA's likely rate hike.
Australia's preliminary S&P Global PMIs for September are due Wednesday, with markets focused on inflation signals ahead of expected RBA hike on Sep 29.
RBA Governor Michele Bullock highlighted inflation risks from the Middle East and excess demand, and noted rising neutral rates, suggesting higher-for-longerβ¦
RBA's Sarah Hunter said rates may need to rise again as inflation risks stay tilted higher, with markets pricing in a hike at the September meeting.
RBA Governor Bullock speaks in a fireside chat ahead of the September 28-29 meeting, with a rate hike widely expected.
UBS sees two more RBA hikes to a 4.85% terminal rate after Bullock and Hauser hawkish comments, with markets pricing a 70-75% chance of a September move.
RBA's Bullock signals policy may not be tight enough as oil price risks build, hinting at a possible rate hike.