Australia’s Inflation Slows, BoE’s Mann Speaks
BoE’s Mann Speech: Catherine Mann is a member of the Bank of England’s Monetary Policy Committee. She is participating in a panel discussion on economic research. This is happening at the annual Central Bank Research Association meeting in Frankfurt, Germany.
Australia’s CPI (July): The CPI came in at 3.5%, slightly lower than June’s 3.8%, but above the expected 3.4%. This indicates cooling inflation but suggests the Reserve Bank of Australia still has concerns.
Fed’s Waller Speech: Fed Governor Waller spoke in Mumbai. He focused on payments technology. He did not provide new insights on future monetary policy.
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EUR/USD trades around 1.1149, showing a slight decline of 0.26% on the day.
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GBP/USD is holding at 1.3233, down 0.17%, with mixed signals from the UK economy.
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USD/JPY is up by 0.30% at 144.39, reflecting pressure on the yen due to Japan’s economic challenges.
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AUD/USD remains stable around 0.6788, reflecting slight movement after Australia’s inflation data.
Commodities:
- Gold is trading at $2,509.10 per ounce, down 0.64% for the day but up 5.38% over the month.
- Crude Oil (WTI) is trading at $75.55 per barrel, with a small daily gain of 0.02%, reflecting concerns over supply from the Middle East.
- Brent Oil is trading at $79.55 per barrel, barely moving with a 0.01% daily increase.
Political Moves:
US Politics: The political landscape remains calm, with no major updates impacting the markets today.
UK Politics: No significant new developments today, with ongoing uncertainty around future economic policies.