Read full post at forexlive.com
The focus was the inflation data:
The lower than expected core reading removes the prospect of a rate hike by the Reserve Bank of Australia at its meeting next week on August 5 and 6.
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As for the retail sales data on the month, it’s a strong beat. The Australian Bureau of Statistics cite mid-year sales. I would have thought this would be accounted for in seasonal adjustment.
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This article was written by Eamonn Sheridan at www.forexlive.com.
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