{"id":246739,"date":"2025-07-08T01:34:09","date_gmt":"2025-07-08T01:34:09","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/246739\/"},"modified":"2025-07-08T01:34:09","modified_gmt":"2025-07-08T01:34:09","slug":"a-back-to-back-rate-cut-by-the-rba-is-priced-in","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/246739\/","title":{"rendered":"A back-to-back rate cut by the RBA is priced in"},"content":{"rendered":"

As investors remained wary over trade tensions following President Trump’s announcement of tariffs on Japan and South Korea, the Greenback gained momentum, rising to multi-day highs and sparking a generalised strong correction in the risk-associated space on Monday.<\/p>\n

Here’s what to watch on Tuesday, July 8:<\/p>\n

The US Dollar Index<\/a> (DXY) rose to eight-day highs near 97.70 accompanied by rising US yields across the curve in a context of steady caution ahead of the July 9 tariff deadline. A light calendar<\/a> will feature the NFIB Business Optimism Index followed by the API\u2019s weekly report on US crude oil inventories.<\/p>\n

EUR\/USD broke below the 1.1700 support to reach multi-day lows in response to the marked bounce in the US Dollar. Germany\u2019s Balance of Trade results are due in along with the speech by the ECB\u2019s Nagel.<\/p>\n

GBP\/USD traded on the back foot, slipping back below the 1.3600 level amid the strong resurgence of the risk-off mood. Next on tap across the Channel will be the BoE\u2019s Financial Stability Report on July 9.<\/p>\n

USD\/JPY advanced to two-week tops past the 146.00 barrier, underpinned by the pronounced uptick in the Greenback. The Current Account results are due, followed by Bank Lending prints and the Eco Watchers survey.<\/p>\n

AUD\/USD retreated for the third consecutive day, breaching below the 0.6500 support, or multi-day lows. The RBA will decide on rate, seconded by the usual press conference by Governor Bullock and the NAB\u2019s Business Confidence print.<\/p>\n

WTI prices reversed two daily pullbacks in a row, reaching two-week highs above the $68.00 mark per barrel as investors shrugged off supply concerns and shifted their attention to prospects of stronger demand in the near term.<\/p>\n

Gold prices<\/a> reversed the initial bearish tone and managed to regain traction on Monday, flirting with the $3,340 zone per troy ounce on the back of increasing trade jitters. Silver prices set aside two daily advances in a row and approached the $36.00 zone per ounce on Monday, just to bounce afterwards.<\/p>\n","protected":false},"excerpt":{"rendered":"As investors remained wary over trade tensions following President Trump’s announcement of tariffs on Japan and South Korea,…\n","protected":false},"author":2,"featured_media":246740,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[3133,51,3422,1139,1700,17929,3716,16,15],"class_list":{"0":"post-246739","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-audusd","9":"tag-business","10":"tag-currencies","11":"tag-dollarindex","12":"tag-economy","13":"tag-eurusd","14":"tag-rba","15":"tag-uk","16":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114815045721574986","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/246739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=246739"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/246739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/246740"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=246739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=246739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=246739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}