AUD/USD flows: RBA Did not Cut

To most surprise, the RBA did not cut and suggest it could wait for more confirmation after the previous 50bps cut. It is hardly surprising as there is likely only three cuts left for the RBA till terminal rate with little urgency from current inflationary dynamic and we continue to expect only two 25bps cut in 2025. 

AUD/USD got a shot in the arm and is trading 0.79% higher at 0.6541.