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.
