China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Japan Signals Surprise Yen Intervention Strategy as BOJ Hawkish Stance Puts FX Traders on Alert 
Mary Daly Says AI Uncertainty Clouds Fed Rate Outlook Despite Restrictive Policy 
Vietnam’s population hit the 100 million milestone. Where’s it headed? 
Bank of America Upgrades T-Mobile to Buy, Says LEO Satellite Fears Are Overdone 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Gold Surges Past $4150 on Dovish Fed Signals and Weak Jobs Data; Bullish Outlook Prevails 
Gold Pulls Back After Hitting $4,180 as Geopolitical Risk Sends Crude Higher 
Morgan Stanley Says China’s Reusable Rocket Progress Poses Long-Term Challenge to SpaceX 
Goldman Sachs Flags 3 Key Risks Ahead of Europe’s Earnings Season 
Denmark Central Bank Intervenes to Support Krone Peg Against Euro 
Latest report shows residents of Australia is availing the benefits of lower rates from Reserve Bank of Australia (RBA), which is at record low of 2%. RBA has reduced rates twice this year so far and held policy steady since May.
- Credit card purchases totaled A$24.4 billion in August, compared to A$24.7 billion in July. This marks third consecutive decline, but still robust compared to A$22.4 billion a year earlier.
Strong domestic economy and relatively stable unemployment rate has given some confidence to RBA to pause rates at a time when decline in commodity prices, such as iron ore, coal has pushed Australia's mining industry and exports to doldrums.
Recently commodity giant Glencore announced it will cut 535 jobs in Australia as it will shut down mines and reduce its zinc production by 500,000 tons.
However recent weakness in US payroll data after US Federal Reserve chose not to hike rates in September has pushed back rate hike expectations well into next year and provided boost to commodity prices as well as commodity currencies.
Australian Dollar is currently trading at 0.735, up from its recent low around 0.694.
