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Australia Rate Decision On Tap For Tuesday

The Reserve Bank of Australia will wrap up its monetary policy meeting on Tuesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity.

The RBA is widely expected to keep its benchmark lending rate unchanged at 1.50 percent.

The RBA also will release its commodity price index numbers for July; in June, the index surged 25.0 percent on year to a score of 119.5.

Australia also will see July results for the AiG Performance of Manufacturing Index; in June, the index score was 55.0.

China will release July results for the manufacturing PMI from Caixin, with forecasts expecting the score to hold steady at 50.4.

Japan will see final July figures for the manufacturing PMI from Nikkei; the previous reading was 52.2.

A number of other regional countries also will see July results for their respective manufacturing PMIs from Nikkei, including Vietnam, Thailand, Taiwan, South Korea, the Philippines, Myanmar, Malaysia and Indonesia.

South Korea will release July figures for consumer prices, imports, exports and trade balance.

Consumer prices were down 0.1 percent on month and up 1.9 percent on year in June, while core CPI added 0.3 percent on month and 1.4 percent on year.

Imports are expected to rise 15.0 percent on year after climbing 18.0 percent in June. Exports are called higher by 15.9 percent after advancing 13.7 percent in the previous month. The trade surplus is pegged at $8.68 billion, down from $11.403 billion a month earlier.

Indonesia will provide July numbers for consumer prices. In June, overall inflation added 0.69 percent on month and 4.37 percent on year, while core CPI gained 0.26 percent on month and 3.13 percent on year.

The material has been provided by InstaForex Company – www.instaforex.com

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