The Day Today

– RBAustralia cut rates 25bp again, citing “uncertainty generated by the trade and technology disputes…inflation pressures remain subdued”
– Australian government close to securing support for A$158bn tax cut
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– G20 sees Trump and Xi agree to resume talks and Trump said on further tariffs “we’re holding back”
– China manufacturing shrank for first time in months,

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– Ahead of the Trump/Xi meeting Saturday Larry Kudlow says Trump has agreed to no preconditions, Trump says trade is the top priority at G20
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– Trump balks at India’s “very high Tariffs against the United States” ahead of a meeting with Modi
– Japan retail sales 1.2% as f/c but it is the strongest print this year
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– FOMC chair, Jay Powell, says the Fed is “insulated from short term political pressures” but stays dovish as he has “concerns about the global economy”

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