Its an active agenda ahead.
At 0130 GMT we get Q2 inflation data from Australia. Official Australian CPI data is only available once a quarter. The Reserve Bank of Australia is trying to combat rising prices, beginning their rate cycle back in May. Following up with more hikes in June and July, and there is more to come. The RBA expect core inflation to return to the target band in 2023. The RBA's record on forecasting inflation is poor though.
'Trimmed mean' (see pic) and 'Weighted median' ( see below pic) are core inflation indicators in today's data:
- This snapshot from the ForexLive economic data calendar, access it here.
- The times in the left-most column are GMT.
- The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where is a number, is the consensus median expected.
For the Weighted median:
- expected 1.4% q/q, prior 1.0%
- expected 4.3% y/y, prior 3.2%
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Also coming up at 0130 GMT, from China we get Industrial Profit data for June. Its been a tough year for China with rolling outbreaks and associated lockdowns.
- priors on this are -6.5% y/y and +1.0% YTD y/y
