BOJ Holds Interest Rates Steady, Upgrades Growth and Inflation Outlook for Japan 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
China Holds Loan Prime Rates Steady in January as Market Expectations Align 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Federal Reserve Faces Subpoena Delay Amid Investigation Into Chair Jerome Powell 
BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
RBA published the minutes of its August monetary policy today. It has reiterated that it is “unlikely that the cash rate target would be cut in the short term.” The minutes also stated that “not possible to either rule in or rule out” further interest rate changes. The central bank mentioned that an immediate hike is possible only if inflation increases materially.
It also suggested that keeping the cash rate steady “for an extended period” is good to drag the inflation down to target within a reasonable time frame.
Major resistance- 0.6800
Near-term resistance - 0.6750
Minor support- 0.6640,0.6600
Trend reversal level- 0.6560
