This post was originally published on this site.The aussie will be hoping that Christmas will come early this year with the RBA perhaps delivering a timely present tomorrow. But with markets already well expecting a rate hike this week, will Bullock have anything left in her bag of tricks to give the aussie another leg higher? As things stand, traders are pricing in roughly 87% odds of a 25 bps rate hike tomorrow, which will take the cash rate to 4.85%. And this will follow the rate hike from September, with inflation proving to be a rather stubborn headache to deal with...

This post was originally published on this site.EUROPEAN SESSION In the European session, we get the final PMIs for the major Eurozone economies and the UK. The final data is rarely a market mover because markets react more to fresh information like preliminary data.  The week started with a positive risk sentiment given the lack of US attacks on Iran over the weekend and the latest diplomatic developments. Iran has proposed a two-day framework to reopen the Strait of Hormuz in exchange for US concessions, including sanctions relief, the release of frozen assets and changes to the US military presence. However,...