There are sufficient reasons for the Bank of Canada to lower interest rates this week! The Canadian dollar is bearish, and hopes for a rebound are pinned on expectations of future interest rate cuts cooling down.

On June 5th at 21:45 Beijing time, the Bank of Canada will hold a rate decision. Currently, the market is roughly split on whether the central bank will take action now or wait until July. Howard Du, G10 Forex strategist at Bank of America, said, 'Ahead of the June Bank of Canada meeting, we maintain a bearish CAD stance.'

FX678 Finance41minutes ago

High interest rates are impacting household expenditures, causing the Australian economy to almost stagnate.

In the first three months of this year, the Australian economy was almost at a standstill.

Zhitong Finance00:40 ET

Australia's Economy Barely Registers Pulse in First Quarter

Growth in Australia's commodity-rich economy barely registered a pulse in the first quarter, as the impact of high interest rates and climbing costs due to nagging inflation pressures slowed activity to a crawl.

WSJ21:33 ET

Australian GDP Expands 0.1% QoQ in Q1 Vs. 0.2% Expected

Australia’s Gross Domestic Product (GDP) grew 0.1% QoQ in the first quarter of 2024 compared with the 0.2% growth in Q4 of 2023, the Australian Bureau of Statistics (ABS) showed on Wednesday. This reading came in below expectations of 0.2%.

FXStreet21:31 ET

Australia's Service Sector Expands Further in May

An acceleration in new export business growth drove the further expansion of Australia's service sector in May.

MT Newswires21:24 ET

Australia GDP Data Likely to Show Anemic Growth in 1Q -- Market Talk

Australia GDP data is likely to show anemic growth in 1Q, analysts say.

WSJ21:07 ET