No news is good news
• Quiet start. UK & US on holidays. European equities rise & bond yields slip back. Upbeat risk tone weighed on the USD & supported the AUD.• ECB speakers. Several ECB members spoke with a rate cut next week strongly hinted at. What happens after that will depend on the data.• AU data. Retail sales due today. Monthly CPI indicator released tomorrow. Weaker data could exert some near-term downward pressure on the AUD. It has been a quiet start to the week across markets, unsurprising given the UK and US were off enjoying a long weekend and the limited news...