Dollar Holds Near Six-Week Low as Yen Loses Momentum Ahead of U.S. Jobs Data 
Asian Currencies Hold Steady as US Dollar Nears Seven-Week Low Ahead of Key Jobs Data 
Trump Unveils $3 Billion U.S. Critical Minerals Push 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
US Stock Futures Rise as Markets Await July Payrolls Data 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
Asian Stocks Slide as Semiconductor Selloff Weighs on South Korea and Japan 
Australia’s headline inflation for the third quarter of this year is expected to come in at 0.5 percent q/q in, with the annual rate remaining at 1.6 percent, according to the latest report from ANZ research. The largest contributor to the headline figure was holiday travel and accommodation.
Petrol prices are expected to detract from inflation this quarter, after rising sharply in the previous quarter. Trimmed mean inflation, the underlying measure of inflation focused on by the RBA, is expected to come in at 0.4 percent q/q.
This would see the annual rate stay at 1.6 percent. The risks to trimmed mean inflation for the quarter are seen to be as skewed to the downside slightly; forecast for trimmed mean inflation is in line with what the Reserve Bank of Australia (RBA) published in its August Statement of Monetary Policy (SOMP), the report added.
A number in line with this won’t put any pressure on the RBA to act sooner than currently expected. At this point, trimmed mean inflation would need to considerably disappoint markets to think the RBA will cut again in 2019.
"If the RBA eases in November, it is likely to be the result of a combination of the Fed easing in October and another weak month of retail’s sales suggesting that the tax cuts are not being spent rather than soft inflation," ANZ Research further commented in the report.
