Australian Dollar resumes advance as US Dollar loses post-NFP momentum

AUD/USD resumes its advance on Friday after a brief bout of weakness following a stronger-than-expected United States (US) employment report. The pair initially fell to 0.7173 before reversing as the US Dollar (USD) struggled to capitalize on the upbeat figures, even as they strengthened expectations of a Federal Reserve (Fed) rate hike at the September […]

Turkey: CBRT likely to hold before two Q4 rate cuts

ING’s Muhammet Mercan notes the Central Bank of the Republic of Türkiye (CBRT) has normalised liquidity via weekly repo auctions, bringing effective funding costs down to the 37% policy rate. ING expects the CBRT to hold rates at the September meeting, then deliver two 100bp cuts to 35% in the fourth quarter, with further Gulf […]

Fed’s Hammack says policy is not restrictive enough

Cleveland Federal Reserve (Fed) President Beth Hammack said on Friday that the current monetary policy stance is not restrictive, emphasizing that inflation is too high. In an article on LinkedIn, she added that local contact views indicate that “now is the time for the Fed to hike to control inflation.” Key highlights: Inflation is still […]