- Australia's Q2 GDP data will be released on Wednesday, with expectations of a 0.2% QoQ growth (vs. 0.1% in Q1) and a 0.9% YoY rate (vs. 1.1% in Q1).
- However, recent data on retail sales and private capital expenditure suggest downside risks to the GDP forecast.
- RBA Governor Bullock will speak on Thursday, likely reiterating the RBA's hawkish stance. Markets will look for clues on whether the bank is open to cutting or not this year.
- Despite the RBA's hawkish guidance, market expectations point to an 80% chance of a rate cut in December, reflecting concerns about slower economic growth.
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