FXStreet reported that the Australian dollar fell against the U.S. dollar on Oct. 22 as Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said quarterly inflation was likely to top the bank’s August assumption.
FXStreet’s report, published at 11:39 a.m. ET (15:39 UTC) Oct. 22, listed AUD/USD at 0.7010 and recorded a 0.21% daily loss. The outlet linked the decline to oil-market concerns and Middle East tensions, while saying Hauser’s comments were reinforcing expectations of further RBA tightening. EconoTimes had earlier reported the currency near 70 U.S. cents before oil prices rose later in the session in coverage of the Australian dollar’s approach to that level.
Hauser spoke in Sydney on Oct. 21. He said an especially sharp downward surprise in the quarter’s final month would be needed to keep inflation from exceeding the RBA’s August assumption. “The inflation outlook looks materially worse than we projected in the August report,” he said. Hauser added that rising borrowing costs leave mortgage holders with less room in their budgets, while inflation is especially punishing for renters with limited incomes.
Saudi Arabia’s Ministry of Energy said air defenses intercepted a drone heading toward a facility at the Shaybah oil field on Oct. 21. The ministry said two residents — one Filipino and one Nepali — died, while two others, one Pakistani and one Indian, were injured. A contractor’s vehicle caught fire outside the facility, but the ministry said the incident did not disrupt field operations. It did not identify who launched the drone. The U.S. Department of State (State Department) ordered nonemergency government employees and their families to leave Saudi Arabia; a spokesperson said the order applied to that country alone.
China’s National Bureau of Statistics (NBS) reported that gross domestic product grew 4.5% year over year in the third quarter, compared with 4.3% in the previous quarter. FXStreet described the result as a possible source of support for the Australian dollar, a market interpretation rather than an official assessment.
The Australian Bureau of Statistics (ABS) reported that consumer prices rose 4.0% in the year through August 2026, while trimmed-mean inflation increased 3.6%. The ABS plans to publish September CPI figures on Oct. 28. The RBA raised its cash-rate target by 25 basis points to 4.60% on Sept. 29, effective the following day. The bank cited global energy prices, Middle East conflict and domestic capacity pressures as inflation risks, and said it would consider further increases if needed. Its next policy decision is scheduled for 10:30 p.m. ET Nov. 2 (03:30 UTC Nov. 3).
