China's official Manufacturing PMI contracts in July

China's official Manufacturing PMI for July came in at 49.9 vs 50 exp and 50 last, with PMI services at 53.9 vs 53.7 last.

Meanhile, Australia Melbourne Institute Inflation (MoM) July came much softer at -0.3% vs 0.6% last, with the yearly July reading at 1.0% vs 1.5% last.

Also in Australia, HIA New Home Sales (MoM)  for June came at 8.2% vs -4.4% last.

Overall, the data is largely neutral for the Australian Dollar, although the poor inflation expectations report will not help ahead of the RBA's monetary policy decision on Tuesday, with the chances of a rate cuts currently just above 50%.