Aussie is recovering a bit after last week's CPI figures. Although the inflation data fell below the Reserve Bank of Australia’s 2-3% medium-term core inflation target, it was in line with RBA forecasts. This suggests there’s little chance of the central bank cutting interest rates anytime soon. However, if conditions don’t improve later, we could see a rate cut before the end of the year.
Aussie little changed in a quiet Monday trade
There were no major data releases from Australia today. Although the quarterly figure was weaker-than-expected, the annual rate increased to 1.5% from 1.3% in the third quarter. This was, however, below the 1.6% expected increase. In addition to the headline inflation figure, core inflation also missed market expectations, rising 0.4% for the quarter against forecasts for an increase of 0.5%. Its year-on-year rate came in at 1.55%, slightly above the 1.5% expected rise.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419