Three of Australia's Big Four banks now expect another RBA hike this year, after minutes, CPI, and household spending data all pointed the same direction this week — pushing AUD/JPY toward 115 while BoJ hawkishness offers Yen little new to trade.
Three separate reactions to three separate catalysts: PCE confirms Fed pricing, Australian CPI reopens the RBA hike debate, and Hormuz diplomacy pulls Brent's war...
Gold and Silver are pausing after a sharp rally, with Wednesday's US data testing the yield channel and Friday's Warsh Jackson Hole speech testing the deeper fiscal-credibility thesis behind the rally itself.
A hotter Australian inflation print that keeps a September RBA hike live, combined with Canada's newly specified tariff retaliation against the US, are pushing AUD/CAD toward parity — a cross that expresses both stories more cleanly than either pair does against the Dollar.