Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
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 Expected to Raise Interest Rates by 25 Basis Points in February, ANZ Forecast Says 
ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
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
