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Experts split on whether next RBA move is a hike or cut amid energy risks
The Reserve Bank of Australia (RBA) unanimously held rates at 4.35% in August, but major economic forecasters offer varying takes on what comes next:
PBOC sets USD/CNY reference rate at 6.7882 vs. 6.7900 previous
On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7882 compared to the previous day's fix of 6.7900 and 6.7430 Reuters estimate.
Euro consolidates below mid-1.1500s vs USD ahead of German HICP, US CPI
The EUR/USD pair struggles to gain any meaningful traction and holds steady around mid-1.1500s during the Asian session on Wednesday, within a familiar range held over the past week or so.
Japan Money Supply M2+CD (YoY) unchanged at 2.2% in July
Japan Money Supply M2+CD (YoY) unchanged at 2.2% in July
GBP/JPY Price Forecast: Struggles at 50-day SMA with bulls near 215.50
The GBP/JPY ended Tuesday’s session unchanged at 215.17 as buyers remained reluctant to test the 50-day Simple Moving Average (SMA) at 215.43, seen as the first resistance level on its way to re-test yearly peaked at around 219.61.
Singapore Dollar: Decline risks assessed against US Dollar – OCBC
OCBC analysts Sim Moh Siong and Christopher Wong discuss USD/SGD after its post-payroll decline, noting the pair last traded near 1.28 with bearish momentum starting to wane.
South Korea Unemployment Rate up to 2.8% in July from previous 2.7%
South Korea Unemployment Rate up to 2.8% in July from previous 2.7%
The Australian Dollar goes seven weeks without a central bank
AUD/USD trades just above 0.7050 on Tuesday August 11, a tenth of a percent firmer inside a 29-pip range, having taken the Reserve Bank of Australia (RBA) decision entirely in its stride.
Chinese Yuan: Range trade persists, upside risk against US Dollar – UOB
United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann expect USD/CNH to remain confined in a narrow intraday range, reflecting flat momentum indicators. Over the next 1–3 weeks, they still see scope for the Dollar to edge lower toward 6.7300 while resistance has shifted higher.
The Japanese Yen gives back half of a record intervention
USD/JPY trades just beneath 159.50 on Tuesday August 11, effectively unchanged inside a 47-pip range, wedged between a reclaimed 200-day moving average near 158.00 and a declining 50-day near 160.50.
Indonesian Rupiah: BI succession supports IDR against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong note that Indonesian Rupiah (IDR) strengthened to near a two‑month high on a softer US Dollar (USD) after weak United States (US) payrolls and clarity over Bank Indonesia (BI) leadership, with Destry Damayanti nominated as sole governor candidate.
Mexican Peso hits 25-month high as US CPI lurks
The Mexican Peso (MXN) is poised to end Tuesday’s session with solid gains of 0.32% against the US Dollar (USD) as money markets await the release of the US July inflation figures, while USD/MXN trades at 17.08, a level last seen in June 2024.
Singapore: AI-driven growth supports MAS outlook – Standard Chartered
Standard Chartered Bank economists Edward Lee and Jonathan Koh highlight that Singapore’s H1 GDP expanded 6.1% year-on-year, with strong AI-related demand offsetting energy sector drag.