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Wednesday, July 31, 2024

Asia Market Movers: Here's a forecast for a 25bp RBA rate hike next week - citing inflation not falling

Here's a forecast for a 25bp RBA rate hike next week - citing inflation not falling

ING responding to the inflation data from Australia today: If you wanted to find a reason to leave rates unchanged at the 6 August meeting, there is some support in the core numbers published today to... 

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China Vice Finance Minister says will strengthen fiscal policy adjustments

China Vice Finance Minister: Will strengthen fiscal policy adjustments, deepen fiscal and tax reforms Will steadily implement consumption tax reform in step-by-step way Will standardise management of... 

Other Australian data: Retail sales for June 0.5% m/m (expected +0.2%)

The focus was the inflation data: Australian Q2 core inflation +0.8% q/q (expected 1.0%) AUD/USD has dropped under 0.6500 after core inflation comes in lower than expected The lower than expected core... 

Other Australian data: Private sector credit (June) 0.6% m/m (expected +0.4%)

It was the CPI that was the focus: Australian Q2 core inflation +0.8% q/q (expected 1.0%) AUD/USD has dropped under 0.6500 after core inflation comes in lower than expected The RBA will not raise its... 

AUD/USD has dropped under 0.6500 after core inflation comes in lower than expected

AUD shunted lower:... 

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Major indices are higher in early US trade. AMD, MIcrosoft, Starbucks and Pinterest report

The major indices are higher in early US trade. After the close AMD, Microsoft, Starbucks, and Pinterest report earnings. Microsoft shares are trading up $2.15 or 0.50% in early trading. A snapshot o... 

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