• RBA keeps rates unchanged, as expected
• No significant difference in the statement
• AUD/USD weakened slightly at the
release of the statement but recovered and advanced even more in
the following minutes
• China’s HSBC services PMI dropped to its
lowest reading in the nine-year series history
• No major reaction from AUD and NZD at the release
• Today: service-sector PMI day for July
• Final service-sector PMIs for July from
France, Germany and Eurozone; bloc’s retail sales for June are also coming out
• UK: service-sector PMI is expected to have
increased slightly in July; strong reading should be important for Cable to
regain its lost glamor
• US: ISM non-manufacturing index for July and factory
orders for June
• No speakers scheduled on Tuesday
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