Goldman Sachs: US Dollar Likely to Stay Strong Despite Oil Price Retreat 
Sell the Bounce": Gold Rally Stalls Near $4165 as Fed Hawks Slam the Door on Rate Cuts — Targets $4000/$3600 
How AI prompting turned writerly description into an everyday skill 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
World Cup technology: from ref cams to AI analysts, cutting-edge research is changing the game 
How Donald Trump has changed the way diplomacy is done 
AI Memory Boom Sparks Global Chip Supply Crunch 
SpaceX Stock Gets $175 Target as Analysts See Massive Growth Ahead 
Trump’s Iran Strategy: What Has Been Achieved After Three Months of Conflict? 
Today Reserve Bank of Australia (RBA) kept its policy rate on hold at 2.25 percent. Australian dollar is enjoying bids on the news so far.
Key notes -
- RBA acknowledged the weakness in the economy in Australia and globe despite accommodative monetary policy.
- RBA confirmed its observation of weakness in the GDP growth and some deterioration in Unemployment situation in Australia.
- Despite the hold in policy rates, this is not a move to neutral stance. Instead RBA could further reduce the policy rates in the coming meetings.
- Today's statement showed that RBA is not concerned over the weak Australian dollar and its potential to cause inflation instead advocated for further reduction in the exchange rate. This so far has been shrugged off.
- The central bank went ahead in mentioning that lower exchange rate is required to balance the economy and despite the fall, Australian dollar is still overvalued against other counterparts.
Aussie is currently trading at 0.783 up nearly 1% for the day against dollar. With central bank's dovish view the currency is not expected to gain much. Gains would come from a broad based decline in US dollar. Failure to break above the resistance of 0.792 could induce sharp fall in the currency.
