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Forex: Looking ahead to Aussie CPI

CPI data is released only quarterly in Australia.  The overnight release is expected to show the headline rate rising to 3.2%.  If anything, risks are to the upside and the danger from this is that the RBA starts to get a little more vocal regarding the currency.  The Aussie is around 4% higher vs. when they were talking down the currency at the end of last year.  Has the outlook changed that much that negates this currency impact? Probably not, so the risks of a change in statement early May makes the Aussie vulnerable.

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