Daily digest market movers: Aussie down as markets digest PMIs ahead of RBA
- Australia's July services and composite PMIs were weaker than expected, with the composite reading falling below 50 for the first time since January.
- The Melbourne Institute Monthly Inflation Gauge showed a decline in inflation to within the RBA's target band.
- The RBA is expected to maintain a neutral policy stance despite inflation remaining above its target range.
- The highlight will be that the RBA will publish new sets of forecasts in its Statement on Monetary Policy, which will guide markets on the next interest rate bets.
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