RBI Hits Pause as Geopolitical Storm Clouds Gather 
BOJ Raises Interest Rates to 1% as Inflation Pressures Persist 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
RBI Holds Interest Rates at 5.25%, Cuts India Growth Forecast Amid Rising Global Risks 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
Gold Price Rises as Investors Weigh U.S.-Iran Talks and Fed Policy Outlook 
Taiwan Central Bank Likely to Keep Interest Rates Unchanged Through 2027 
South Korea Signals Possible Interest Rate Hike as Inflation Remains Elevated 
Indonesia Passes New Central Bank Law, Raising Investor Concerns Over Policy Independence 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
The Reserve Bank of Australia (RBA) issues a Statement on Monetary Policy four times a year. The statement sets out the central bank's assessment of current economic conditions, both domestic and international, along with the outlook for Australian inflation and output growth.
There was little change from the RBA at its policy meeting earlier this week. The statement that followed noted that the RBA sees GDP growth returning to 3 percent over the next couple of years, while its inflation forecasts are said to be “largely unchanged”. The market is now closely awaiting RBA's Statement on Monetary Policy (SoMP) on Friday.
"We expect Friday’s Statement on Monetary Policy (SoMP) to highlight that while the growth outlook remains positive, inflation is low and likely to remain low. We continue to see rates on hold at 1.5%." said ANZ markets in a report.
Uncertainty around the global political and trade outlook to keep the Bank’s assessment of key risks largely unchanged. Of concern to the RBA would be China's overcapacity and high debt levels, slack in the Australian labour market and outlook for global trade given Trump's protectionist politics nnd the Brexit vote.
AUD/NZD was hovering around 5-DMA, intraday bias remained neutral. Stiff resistance is seen at 0.7685 (trendline), while major support on the downside lies at 0.7580 (20-day MA). A daily close below 5-DMA will likely increase the bearish bias. Breach at 20-DMA could see test of 0.7493 (200-day MA).
