Reserve Bank of Australia (RBA) June Quarter ‘Bulletin’ out now. It is a useful background document and is usually not an immediate forex market focal point.

Full text is here

An item of note is an article on China’s infrastructure investment

  • The RBA says that the expansion and upgrading of China’s infrastructure has had a significant impact on the Australian economy
  • That iron ore and coking coal are important inputs into the production of steel
  • “If the Chinese economy continues to converge – on a range of development indicators – with advanced economies and the share of the population dwelling in urban areas grows further over time, Chinese investment in infrastructure should continue to support the global demand for raw materials”
  • The RBA says risks from China may be to some extent mitigated by reforms there