Australian Dollar aims to recover from a three-day losing streak ahead of RBA minutes
The post Australian Dollar aims to recover from a three-day losing streak ahead of RBA minutes appeared on BitcoinEthereumNews.com. Australian Dollar retraces recent losses post-release of the RBA Meeting Minutes on Tuesday. RBA is exploring the possibility of introducing a central bank digital currency to save costs of billions of dollars. Investors seem to price in the possibility of another Fed rate hike following a slew of robust US data. The Australian Dollar (AUD) kicks off the week by recovering from the three-day losing streak, trading higher against the US Dollar on Monday. The pair faced challenges possibly due to the shift in discussions about the trajectory of the US Federal Reserve’s (Fed) monetary policy. Investors are expected to focus on the Reserve Bank of Australia’s (RBA) Meeting Minutes on Tuesday and employment data later in the week. Australia’s central bank is exploring possibly introducing a central bank digital currency (CBDC). Brad Jones, Assistant Governor (Financial System) at the RBA, discussed the tokenization of assets and money in the digital era at The Australian Financial Review Cryptocurrency Summit. Governor Jones highlighted the potential for tokenized money to bring about significant cost savings, potentially amounting to billions of dollars, in the domestic financial markets. The National Bureau of Statistics of China reported on Friday that Chinese inflation experienced a decrease in September. This development could exert pressure on the Australian Dollar (AUD). The Chinese data indicates ongoing economic challenges despite the recent government stimulus plan aimed at supporting the nation in achieving its 5% growth target. The US Dollar Index (DXY) gained upward momentum after a release of robust US data during the previous week, with US inflation surpassing expectations and initial jobless claims coming in lower than anticipated. However, the preliminary US Michigan Consumer Sentiment Index was eased in October. Investors seem to factor in the possibility of another Federal Reserve’s (Fed) rate hike. Moreover, the recovery in US…
The post Australian Dollar aims to recover from a three-day losing streak ahead of RBA minutes appeared on BitcoinEthereumNews.com.
Australian Dollar retraces recent losses post-release of the RBA Meeting Minutes on Tuesday. RBA is exploring the possibility of introducing a central bank digital currency to save costs of billions of dollars. Investors seem to price in the possibility of another Fed rate hike following a slew of robust US data. The Australian Dollar (AUD) kicks off the week by recovering from the three-day losing streak, trading higher against the US Dollar on Monday. The pair faced challenges possibly due to the shift in discussions about the trajectory of the US Federal Reserve’s (Fed) monetary policy. Investors are expected to focus on the Reserve Bank of Australia’s (RBA) Meeting Minutes on Tuesday and employment data later in the week. Australia’s central bank is exploring possibly introducing a central bank digital currency (CBDC). Brad Jones, Assistant Governor (Financial System) at the RBA, discussed the tokenization of assets and money in the digital era at The Australian Financial Review Cryptocurrency Summit. Governor Jones highlighted the potential for tokenized money to bring about significant cost savings, potentially amounting to billions of dollars, in the domestic financial markets. The National Bureau of Statistics of China reported on Friday that Chinese inflation experienced a decrease in September. This development could exert pressure on the Australian Dollar (AUD). The Chinese data indicates ongoing economic challenges despite the recent government stimulus plan aimed at supporting the nation in achieving its 5% growth target. The US Dollar Index (DXY) gained upward momentum after a release of robust US data during the previous week, with US inflation surpassing expectations and initial jobless claims coming in lower than anticipated. However, the preliminary US Michigan Consumer Sentiment Index was eased in October. Investors seem to factor in the possibility of another Federal Reserve’s (Fed) rate hike. Moreover, the recovery in US…
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