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RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
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.
