RBA meets today. Whilst there is certainly room for a rate
cut given low tradable inflation and a core inflation that is below
inflation target, we think a cut to cheapen AUD might not pay off in this
month given supportive iron ore prices. If any, the next cut should be
delayed into November ahead of a potential Fed rate hike in Dec. Apart
from RBA, US releases Jun PCE Core, Fed Kaplan speaks in Beijing. We also
eye Japan’s announcement of the fiscal stimulus which will be a key
swinger for ...