The main highlight from Asian trading was the RBA rate decision. They hiked 50 bps to 2.35% as expected and said that further hikes are likely coming. They added a line to stress 'price stability' but removed a line on 'normalization' to indicate that rates are in neutral territory.
AUD/USD rallied ahead of the decision but has slid lower since and is down 20 pips on the day.
The Federal Reserve will be closely watching today's data on the service sector from the ISM at 10 am ET. The consensus is a slip to 55.1 from 56.7 previously. There will be a special focus on the prices paid component, which stood at 72.3 previously with no consensus.
Otherwise, there are some odds and ends on the economic calendar but nothing market moving.
