RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Federal Reserve Faces Subpoena Delay Amid Investigation Into Chair Jerome Powell 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
RBA Expected to Raise Interest Rates by 25 Basis Points in February, ANZ Forecast Says 
Lots of economic data and events scheduled for today and some with high volatility risks associated.
Data released so far:
- Australia: Trade balance dipped to 856 million in June as exports declined by 1 percent and imports are up by 2 percent.
- New Zealand: ANZ commodity price declined 0.8 percent in July.
- China: Caixin services PMI dips to 51.5 in July.
Upcoming:
- Spain: Markit services PMI report will be released at 7:15 GMT.
- Italy: Markit services PMI report will be released at 7:45 GMT.
- France: Markit services PMI report will be released at 7:50 GMT.
- Germany: Markit services PMI report will be released at 7:55 GMT.
- Eurozone: Markit services PMI report will be published at 8:00 GMT, followed by retail sales report at 9:00 GMT.
- United Kingdom: Markit services PMI report will be published at 8:30 GMT. Bank of England (BoE) will announce interest rate decision at 11:00 GMT, followed by a speech from Governor Carney at 11:30 GMT.
- United States: Challenger jobs report will be published at 11:30 GMT, followed by the release of weekly jobless claims report at 12:30 GMT. Markit services PMI report will be published at 13:45 GMT and ISM non-manufacturing PMI report at 14:00 GMT, along with factory orders. EIA will release weekly natural gas inventory report at 14:30 GMT.
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