The Reserve Bank of Australia (RBA) unanimously held rates at 4.35% in August, but major economic forecasters offer varying takes on what comes next:

Japan Money Supply M2+CD (YoY) unchanged at 2.2% in July

OCBC analysts Sim Moh Siong and Christopher Wong discuss USD/SGD after its post-payroll decline, noting the pair last traded near 1.28 with bearish momentum starting to wane.

US Treasury yields eased on Tuesday as most investors remain cautious, awaiting the release of US inflation figures and the resolution of the US-Iran conflict, which has encountered hurdles.

United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann expect USD/CNH to remain confined in a narrow intraday range, reflecting flat momentum indicators. Over the next 1–3 weeks, they still see scope for the Dollar to edge lower toward 6.7300 while resistance has shifted higher.

OCBC’s Sim Moh Siong and Christopher Wong note that Indonesian Rupiah (IDR) strengthened to near a two‑month high on a softer US Dollar (USD) after weak United States (US) payrolls and clarity over Bank Indonesia (BI) leadership, with Destry Damayanti nominated as sole governor candidate.

Standard Chartered Bank economists Edward Lee and Jonathan Koh highlight that Singapore’s H1 GDP expanded 6.1% year-on-year, with strong AI-related demand offsetting energy sector drag.

Commerzbank strategists note July Consumer Price Index (CPI) eased to 2.0% year-on-year, below consensus, mainly due to softer retail fuel prices. While core CPI has been gradually rising, overall price pressures are described as manageable and below government forecasts.

OCBC’s Sim Moh Siong and Christopher Wong note USD/CNH slipped after weak US payrolls, with the Renminbi (RMB) near its strongest levels in over three years.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann expect USD/SGD to remain in a tight intraday band after Monday’s modest rebound, with the pair seen between 1.2785 and 1.2815.

Standard Chartered’s Nicholas Chia reports that the Reserve Bank of Australia (RBA) kept the cash rate at 4.35% in a unanimous decision, as widely expected. Chia notes the RBA sees inflation returning to the midpoint of its 2–3% target only by late 2027.

UOB economist Jester Koh highlights that Singapore’s 2Q26 Gross Domestic Product (GDP) was revised up to 5.9% year-on-year and 1.4% quarter-on-quarter, driven by AI-related strength in manufacturing and modern services.

The Chicago Fed President Austan Goolsbee revealed in a video posted by Wired, that “The biggest problem facing our economy right now is not the collapse of industry and the collapse of jobs; it's that the prices have been rising too fast, we got an inflation problem and people hate inflation.”

Rabobank's Senior FX Strategist Jane Foley examines Japanese inflation dynamics and Bank of Japan policy. The report notes elevated Oil prices and supply risks, but stresses BoJ’s focus on core inflation and wage-driven pressures after decades of deflation.

DBS Group Research economist Chua Han Teng highlights that Singapore’s economy is set to deliver above-trend growth for a third straight year in 2026, supported by manufacturing, wholesale trade and financial services.

Volkmar Baur at Commerzbank notes that the Japanese Yen has weakened again above 159 per Dollar despite recent intervention and Bank of Japan signals.

Private-sector hiring in the US has further cooled in late July. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 8.25K jobs per week in the four weeks ending July 25.

John Velis at BNY Markets reiterates that he expects no Federal Reserve rate hikes this year, even as risks remain skewed to the upside.

EUR/CAD continues its losing streak for the fifth consecutive day, trading around 1.6080 during the European hours on Tuesday. The Euro (EUR) is under pressure as rising risk aversion, driven by escalating US-Iran tensions, weighs on the cross.

TD Securities’ Prashant Newnaha and Alex Loo note that the Reserve Bank of Australia left the cash rate at 4.35% in a unanimous decision, with the Statement and updated forecasts sounding less hawkish than expected.

Commerzbank’s Tatha Ghose describes recent Forint weakness as a high-beta correction that only partly erases post-election outperformance.

Italy Trade Balance EU: €1.577B (June) vs €0.845B

Italy Global Trade Balance registered at €4.232B, below expectations (€4.74B) in June

Deutsche Bank strategists report that US equities saw modest losses as Oil extended gains, with the S&P 500 easing slightly from record highs and chipmakers leading declines. Energy and health care outperformed.

Here is what you need to know on Tuesday, August 11:

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note EUR/USD has stalled after last week’s surge, with flat momentum pointing to a 1.1530–1.1560 intraday range.

AUD/NZD pares its daily gains, trading around 1.1960 during the Asian hours on Tuesday. The Australian Dollar (AUD) has drifted lower following the Reserve Bank of Australia’s (RBA) latest monetary policy decision, keeping the currency cross on a weaker footing.

USD/IDR gains ground after two days of losses, trading around 17,850 during the Asian hours on Tuesday.

Australia RBA Interest Rate Decision in line with forecasts (4.35%)

Netherlands, The Consumer Price Index n.s.a (YoY) registered at 3.2% above expectations (3.1%) in July