Another line-ball RBA meeting
• Risk on. Softer US spending & PCE inflation data supported risk sentiment on Friday. Equities higher. US bond yields consolidated. USD lost some ground.• RBA in focus. Will they hike or pause on Tuesday? Markets & the analyst community are evenly split. This points to a binary short-term AUD reaction.• AUD forces. As shown last month, RBA actions aren’t the only thing that matter for the AUD. A solid US labour market report on Friday could boost the USD. A positive end to last week for risk markets with equities rising on Friday, while bond yields consolidated, and the...