Q3 CPI Takes Centre Stage

• Focus today is squarely on Australia’s Q3 CPI release at 11:30am, with markets expecting a trimmed mean inflation quarterly rise of 0.8% and 2.7% annually. Notably above the RBA’s August forecast of 0.6% q/q.
• Rents and market services are expected to be the main drivers behind the trimmed mean inflation pick-up, keeping pressure on the RBA’s inflation outlook.
• In the US, the focus shifts to the start of the FOMC meeting and the planned discussion between Presidents Trump and Xi in Korea, both likely to shape near-term market sentiment.
• US consumer confidence eased again in October, falling for a third straight month to 94.6, its weakest reading since April.
• The latest 7-year US Treasury auction saw modest demand, while the 10-year yield dipped slightly to 3.98%, rounding out a quiet session ahead of a big week of central bank events.