Ella 
The Australian dollar (AUD) continued its fourth straight session of losses on Monday. The AUD/USD pair is facing challenges as rising US Treasury yields lead to a rebound in the greenback.
The Reserve Bank of Australia is expected to implement tighter monetary policy. Reserve Bank of Australia (RBA) Governor Michele Bullock said the Reserve Bank of Australia is prepared to enact appropriate policy measures if inflation persists above expected levels.
Australia’s employment landscape is undergoing an interesting transformation. Employment changes unexpectedly fell sharply in September, adding a surprising twist to the equation. On the positive side, the unemployment rate fell more than expected, departing from the expected trend, which is a favorable move.
Westpac’s new chief economist Luci Ellis, a former assistant governor (economics) at the Reserve Bank of Australia, provides insights into the future path of the RBA’s cash rate policy. Ellis mentioned in a report that the outlook is very balanced and does not completely rule out the possibility of further interest rate hikes, but this depends on significant changes in the inflation outlook.
China is preparing for a major financial policy meeting next week, which is held every five years. The purpose of this meeting is to discuss risk prevention strategies, including a focus on local government financing vehicles (LGFV). The meeting aims to address potential risks to the $61 trillion financial industry and set medium-term priorities.
The U.S. dollar index (DXY) rebounded, regaining recent losses, likely supported by strong U.S. economic data. However, the U.S. dollar (USD) hit a roadblock as U.S. Treasury yields experienced a correction on Friday.
U.S. Federal Reserve (Fed) Chairman Jerome Powell said yesterday that he had no plans to raise interest rates in the short term, which provided support for the U.S. dollar against the U.S. dollar. Powell added that further tightening of monetary policy could be possible if there are further signs of growth or if the labor market stops improving.
