ForexLive Asia-Pacific FX news wrap: Awaiting US retail sales data later

<ul><li><a href="https://www.forexlive.com/centralbank/australian-treasurer-chalmers-says-it-remains-to-be-seen-if-more-rate-hikes-are-needed-20230718/">Australian Treasurer Chalmers says it remains to be seen if more rate hikes are needed</a></li><li><a href="https://www.forexlive.com/news/china-planner-approved-91-fixed-asset-investment-projects-worth-total-of-cny-700bn-in-h1-20230718/">China planner approved 91 fixed-asset investment projects worth total of CNY 700bn in H1</a></li><li><a href="https://www.forexlive.com/centralbank/moodys-for-japanese-banks-a-rise-in-interest-rates-would-bring-more-benefits-than-risks-20230718/">Moodys: For Japanese banks, a rise in interest rates would bring more benefits than risks</a></li><li><a href="https://www.forexlive.com/centralbank/canadian-june-cpi-data-due-today-is-it-just-a-placeholder-20230718/">Canadian June CPI data due today – is it just a placeholder?</a></li><li><a href="https://www.forexlive.com/centralbank/rba-july-meeting-minutes-says-there-was-a-strong-case-for-raising-the-cash-rate-20230718/">RBA July meeting minutes – says there was a strong case for raising the cash rate</a></li><li><a href="https://www.forexlive.com/centralbank/pboc-sets-usd-cny-central-rate-at-71453-vs-estimate-at-71704-20230718/">PBOC sets USD/ CNY central rate at 7.1453 (vs. estimate at 7.1704)</a></li><li><a href="https://www.forexlive.com/news/australian-weekly-consumer-confidence-survey-falls-again-to-72-6-prior-733-20230718/">Australian weekly consumer confidence survey falls again, to 72. 6 (prior 73.3)</a></li><li><a href="https://www.forexlive.com/centralbank/us-june-retail-sales-data-expected-to-rise-is-anyone-even-aware-that-the-fed-is-hiking-20230718/">US June retail sales data expected to rise – is anyone even aware that the Fed is hiking?</a></li><li><a href="https://www.forexlive.com/centralbank/morgan-stanley-expect-us-treasury-yields-to-head-lower-stubborn-fed-the-biggest-hurdle-20230717/">Morgan Stanley expect US Treasury yields to head lower – stubborn Fed the biggest hurdle</a></li><li><a href="https://www.forexlive.com/centralbank/fed-data-shows-rejection-rate-for-us-credit-applicants-climbed-to-its-highest-in-5-years-20230717/">Fed data shows rejection rate for US credit applicants climbed to its highest in 5 years</a></li><li><a href="https://www.forexlive.com/centralbank/china-analysts-say-a-peoples-bank-of-china-q3-rrr-cut-is-likely-to-support-the-economy-20230717/">China analysts say a People's Bank of China Q3 RRR cut is likely – to support the economy</a></li><li><a href="https://www.forexlive.com/centralbank/here-are-2-factors-needed-for-aud-to-move-higher-above-070-towards-071-rba-isnt-one-20230717/">Here are 2 factors needed for AUD to move higher (above 0.70 towards 0.71) – RBA isn't one</a></li><li><a href="https://www.forexlive.com/centralbank/icymi-ecbs-nagel-says-to-expect-a-rate-hike-at-the-july-meeting-september-data-driven-20230717/">ICYMI – ECB's Nagel says to expect a rate hike at the July meeting, September data driven</a></li><li><a href="https://www.forexlive.com/news/jp-morgan-us-small-mid-cap-stocks-have-quite-a-bit-of-upside-if-inflation-rates-fall-20230717/">JP Morgan: US small &amp; mid-cap stocks have "quite a bit of upside" if inflation, rates fall</a></li><li><a href="https://www.forexlive.com/news/td-think-the-usd-has-further-scope-to-fall-4-factors-20230717/">TD think the USD has further scope to fall – 4 factors</a></li><li><a href="https://www.forexlive.com/news/icymi-morgan-stanley-cut-its-china-2023-and-2024-growth-forecasts-20230717/">ICYMI – Morgan Stanley cut its China 2023 and 2024 growth forecasts</a></li><li><a href="https://www.forexlive.com/news/trade-ideas-thread-tuesday-18-july-2023-20230717/">Trade ideas thread – Tuesday, 18 July 2023</a></li><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-empire-fed-improves-us-dollar-climbs-then-fades-20230717/">Forexlive Americas FX news wrap: Empire Fed improves, US dollar climbs then fades</a></li><li><a href="https://www.forexlive.com/news/nasdaq-climbs-above-fridays-high-in-1-gain-20230717/">Nasdaq climbs above Friday's high in 1% gain</a></li></ul><p>
The
Reserve Bank of Australia kept August rate hike bubbling today with
the release of the July meeting minutes. The Bank said the case for a
July rate hike was strong, but was pipped by a stronger case for on
hold. AUD/USD had traded a little higher, mainly due tdue to a dip
for the US dollar, leading into the release of the minutes and has
since come back to be not not a lot changed for the session as I
post. A heads up, the RBA is awaiting the next CPI release, due 26
July Sydney time, to help guide the next meeting decision on August
1.</p><p>Apart
from the RBA minutes there was little news, data, not central bank
events during the session to move major FX much at all. Small ranges
prevailed.</p><p>As I post a spokesman for China's 'state planner' (the National Development and Reform Commission of the People's Republic of China (NDRC)) is saying soothing things about promoting economic growth in the country and prompting a small flow into risk. </p><p>Asian
equity markets:</p><ul><li><p>
Japan’s
Nikkei 225 +0.1%</p></li><li><p>
China’s
Shanghai Composite -0.6%</p></li><li><p>
Hong
Kong’s Hang Seng -1.7%</p></li><li><p>
South
Korea’s KOSPI -0.6%</p></li><li><p>
Australia’s
S&amp;P/ASX 200 -0.4%
</p></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.