Today, the Australian CPI y/y was released at 6.9% (Forecast: 7.6% Previous: 7.3%) which signaled a slowdown in the overall inflation growth.
Although 6.9% is still higher than the target level of 2-3%, could this lead to a slowdown in the future interest rate hikes from the RBA?
On the release of the economic data, the AUDUSD traded slightly higher from the 0.6680 price level toward the 0.67 round number resistance level.
Look for the price to break above 0.67 to signal a stronger reversal higher, with the next key resistance level at 0.6780.
Although 6.9% is still higher than the target level of 2-3%, could this lead to a slowdown in the future interest rate hikes from the RBA?
On the release of the economic data, the AUDUSD traded slightly higher from the 0.6680 price level toward the 0.67 round number resistance level.
Look for the price to break above 0.67 to signal a stronger reversal higher, with the next key resistance level at 0.6780.