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 cash rate at the meeting next week, August 5 and 6.

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As for the credit data, stronger on the month but weaker on the year.

This article was written by Eamonn Sheridan at www.forexlive.com.