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Shocking Shopping Statistics, but RBA likely to hold

Yesterday’s retail numbers showed Australians are cutting back on their shopping habits. Phil Dobbie asks NAB’s Ray Attrill if it’s enough of a concern to influence the RBA later in the year, assuming today’s decision will see no move in rates. Plus, why NAB has revised its AUD forecasts. And all eyes today will be on non-manufacturing PMIs in the US and China. To what extent is the downturn from the trade war turning to the services sector? And will the much talked of truce ever happen? Despite the positive vibes, there’s still no date or place set to sign the phase-one agreement. How much have the markets priced in a favourable outcome?

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