Last week we had the latest data on the Australian employment market, continuing very strong indeed:
Inflation in Australia is way above the Reserve Bank of Australia's target range b,t the Bank has paused (at least) in its rate hike cycle as it awaits more data input on the economy and signs that the rate hikes so far are impacting and will continue to do so. If the CPI data surprises to the topside today, the probability of a rate hike at the August 1 meeting will rise and will be a tailwind for the Australian dollar. In line, or below estimates, and it will suggest the Bank remains on hold next week and thus a headwind for the AUD, at the margin.
Data is due at 11.30am Sydney time., which is 0130 GMT and 9.30 pm US Eastern time:
This snapshot from the ForexLive economic data calendar, access it here.
The times in the left-most column are GMT.
The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
