AUD/USD Little Higher, PPI Improves

AUD/USD is trading at 0.7514, up 0.0005. The pair is trading choppy and on both sides of unchanged. Market chatter about headline news and the Reserve Bank of Australia (RBA) monetary policy is making the rounds. The Australian Bureau of Statistics reported that year over year producer prices (PPI) rose 1 percent year over year in the second quarter versus a rise of 1.2 percent in the first quarter. Quarter over quarter PPI improved to 0.1 percent versus minus 0.2 percent in the previous quarter. The RBA meets on August 2nd and is scheduled to announce if there is any change in monetary policy.