Comes in at +2.7% for June vs. +2.5% expected – the Australian dollar dipped slightly. higher CPI is a constraint stimulus (on the other hand, there are very strong signs from Chinese leadership that there is no stimulus in the pipeline anyay)

The PPI came in a fraction lower than expected (-2.7% vs. -2.6 expected); there is still much under-utilisation of capacity in China.

The NAB business conditions index (-8 vs. -4 prior) is awful.The business confidence index improved (to 0 from -1), but is not good either.

Business conditions at a four-year low: