The Australian dollar continues to drift. In the European session, AUD/USD is trading at 0.6529, down 0.06%.

Australian CPI softer than expected

Australia’s inflation rate stayed steady at 3.4% y/y in February, unchanged for a third straight month. This was just shy of the market estimate of 3.5% and is the lowest inflation rate since November 2021. Food prices rose the least since January 2022, which helped offset higher prices for clothing and housing. The core inflation rate, which is more closely watched by the Reserve Bank of Australia, rose 3.9%, down from 4.1% in January.

Inflation has fallen a long way – a year ago, the inflation rate was twice as high, at 6.8%. Still, the RBA’s target range of 2 to 3 percent has not been attained and core inflation has been stubbornly high. The RBA is wary about lowering rates before it is convinced that inflation is sustainable in the target range and won’t rebound if rates are cut. The next meeting is on May 7^th and the RBA decision will likely be impacted by the first-quarter inflation report, which will be released in late April.

The RBA has kept rates unchanged at 4.35% for four straight times. The markets are of the view that the RBA’s tightening cycle is done and have priced in a 68% chance of a rate cut in August and have fully priced in a rate cut at the September meeting. The RBA has taken a more hawkish stance and is yet to signal that it plans to reduce rates.

AUD / USD Tehnični

• AUD/USD pritiska na upor pri 0.6551. Zgoraj je upor pri 0.6598
• Podpora je na 0.6467 in 0.6420

Vsebina je samo za splošne informacije. To ni naložbeni nasvet ali rešitev za nakup ali prodajo vrednostnih papirjev. Mnenja so avtorji; ne nujno družbe OANDA Business Information & Services, Inc. ali katere koli njene podružnice, hčerinske družbe, uradnikov ali direktorjev. Če želite reproducirati ali ponovno distribuirati katero koli vsebino, ki jo najdete na MarketPulse, nagrajeni storitvi spletnega mesta z novicami in analizami forexa, blaga in globalnih indeksov, ki jo proizvaja OANDA Business Information & Services, Inc., dostopajte do vira RSS ali nas kontaktirajte na [e-pošta zaščitena]. Obiščite https://www.marketpulse.com/ izvedeti več o utripu svetovnih trgov. © 2023 OANDA Business Information & Services Inc.