Live Updates > Live Update Details
2025-07-30 10:58:13
[Australian dollar steady, weak inflation data strengthens expectations of an August rate cut] 1. The Australian dollar remained stable on Wednesday at $0.6517, up about 0.17%, reacting calmly to the unexpectedly weak Australian inflation data for the second quarter. Data showed that the year-on-year growth rate of CPI in the second quarter was the lowest in more than four years, and core inflation hit a three-year low, consolidating market expectations for a 25 basis point rate cut in August. Sean Langcake, head of forecasting at Oxford Economics Australia, said that there were no major warning signals in recent employment and inflation data, supporting expectations that the Reserve Bank of Australia would cut interest rates in August. 2. Chinese and American officials agreed to strive to extend the 90-day tariff truce, which also provided the market with certain stable expectations. The New Zealand dollar rose 0.2% to $0.5966 against the U.S. dollar, facing resistance at 0.60. The market expects the probability of the Reserve Bank of New Zealand cutting interest rates by another 25 basis points on August 20 to be 70%.
