Asian trade was relatively light today as Japan was out on holiday. We did see the release of 2Q Australian PPI. Producer prices rose by 1.0% qoq which was less than the expected reading of 1.5%. This below consensus data is causing some to speculate that CPI on Wednesday may also come in below forecasts. AUDUSD traded firm despite dovish figures as it broke through trendline resistance, and looks poised for a test of the recent highs. The other
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