Aussie higher after CPI figures

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Wednesday, Jan 28 2015

Australian CPI rose 0.2% in the December quarter 2014, compared with a rise of 0.5% in the September quarter 2014. This was below market expectations on 0.3 rise. CPI rose 1.7% through the year to the December quarter 2014, compared with a rise of 2.3% through the year to the September quarter 2014. However, Trimmed Means CPI data beat market forecast on 0.5% increase and rose by 0.7%.

The most significant price rises this quarter were for domestic holiday travel and accommodation (+5.8%), tobacco (+4.8%) and new dwelling purchase by owner-occupiers (+1.1%). The most significant offsetting price falls this quarter were for automotive fuel (-6.8%), audio, visual and computing equipment (-5.2%) and audio, visual and computing media and services (-3.8%).

After the data Aussie was pushed higher and is currently being traded around 0.80 handle. Pair is likely to find support around 0.7920 area and resistance near 0.8050 level. Later today, in the US session, FOMC interest rate decision and the following statement are scheduled for a release.

More in this category: « CB Consumer Confidence up to 102.9 German Consumer Climate at a 13-year high »

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