RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
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RBA Expected to Raise Interest Rates by 25 Basis Points in February, ANZ Forecast Says 
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Not many economic data and events scheduled for today, and all with low to medium volatility risks associated.
Data released so far:
- China: GDP grew by 1.8 percent in Q2, up 6.7 percent from a year ago. Fixed asset investments up 6 percent from a year ago. Industrial production growth declined to 6 percent y/y in May from 6.8 percent in April. Retail sales grew by 9 percent y/y in June, up from 8.5 percent in May.
Upcoming:
- President Trump will be meeting President Putin in Helsinki today. Germany: Wholesale inflation report will be released at 6:00 GMT.
- Italy: Trade balance report for the month of May will be released at 8:00 GMT.
- Eurozone: Trade balance report will be released at 9:00 GMT.
- United States: Retail sales report will be released at 12:30 GMT, along with New York empire state manufacturing report. Business inventories report will be released at 14:00 GMT.
- New Zealand: CPI inflation report will be released at 22:45 GMT.
