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Majors at Key Levels Heading into a Packed Week
What a week we have ahead! It’s FOMC/BoJ later, sure. But lets first not overlook the Australian second quarter inflation data released Tuesday during Asia: “AUD CPI q/q: 0.4% expected and -0.2% previous” With the previous quarter’s inflation miss seen as the catalyst for the last RBA rate cut, traders’ eyes are rightfully focused on this early week release and have it earmarked as the premier confirmation signal for an August cut. With markets currently pricing in a 65% chance of a cut, thanks to some economist expectations of a headline figure rebound, I actually think that AUD/USD has plenty of room to ... (full story)