Tuesday 11th July 2023

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The speed of China’s economic recovery continues to cause concerns. NAB’s Rodrigo Catril says the fall in the CNY continues to pull the Aussie dollar lower, even against a weaker US dollar today. US Treasuries have fallen, despite more hawkish talk from Fed speakers overnight, including Loretta Mester saying rates need to be ‘somewhat higher’. Does that sound like more than two hikes? Today the focus will be on the NAB Business Survey locally, and employment data for the UK. 

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