The Aussie Dollar finished Wednesday’s session with decent gains of 0.15% against the US Dollar, yet it retreated from weekly highs of 0.6529, which it hit after a hotter-than-expected inflation report.
AUD/USD retreats from a peak of 0.6529 following an unexpected surge in Australian inflation figures. The US Dollar Index edges higher, influenced by solid US economic indicators and investor caution ahead of key GDP report. Despite a strong Q1 inflation report suggesting robust Australian economic activity, expectations for an RBA rate cut linger among analysts. Economic data from the United States boosted the Greenback, which, according to the US Dollar Index , gained 0.13%, up to 105.82.
Annually based, the Consumer Price Index expanded 3.6% YoY, down from 4.1% but above projections of 3.4%. Traders sent the AUD/USD rallying above 0.6500 as they priced out a rate cut by the Reserve Bank of Australia in 2024. Despite this red-hot report, ANZ Bank analysts expect the RBA to cut rates in November.
Fundamental Analysis Technical Analysis RBA
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD advances against US Dollar on mixed US data, Aussie jobs up nextThe Australian Dollar makes a U-turn and rises against the US Dollar in early trading during the North American session, gaining 0.33% amid an improvement in risk appetite.
Read more »
AUD/USD rises to two-day high ahead of Aussie CPIThe Aussie Dollar recorded back-to-back positive days against the US Dollar and climbed more than 0.59% on Tuesday, as the US April S&P PMIs were weaker than expected.
Read more »
AUD/USD dips amid Waller’s hawkish comments ahead of Aussie’s Retail SalesThe Australian Dollar finished Wednesday’s session virtually unchanged against the US Dollar following the Aussie’s inflation report and a scarce economic docket in the United States (US).
Read more »
AUD/USD hovers near 0.6600 as markets await Aussie’s Business, Consumer Confidence dataThe Australian Dollar posted solid gains on Monday, rising 0.42% against the US Dollar amid an improvement in risk appetite and a light economic calendar.
Read more »
AUD/USD holds recovery above 0.6400 as US Dollar dipsThe AUD/USD pair holds gains above the round-level support of 0.6400 in Friday’s early New York session.
Read more »
US Dollar Playbook: Technical Setups for EUR/USD, AUD/USD, USD/JPYDailyFX is the leading portal for forex trading news, charts, indicators and analysis. Every tool you need to trade in the foreign exchange market.
Read more »