AUD/USD Rises Sharply on Inflation News
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The Consumer Price Index for Australia was released this morning. According to ForexFactory:
→ CPI in quarterly terms: actual = 1.0%, expected = 0.8%, previous value = 0.6%;
→ CPI in annual terms: actual = 3.5%, expected = 3.4%, previous value = 3.4%.
Rising inflation figures suggest that the Reserve Bank of Australia's tight monetary policy may continue beyond expectations - which is why the Australian dollar has jumped higher relative to other currencies.
Thus, from the minimum of the year against the US dollar, recorded on April 19, the Ausssie rose in price by more than 2%.
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TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG
Disclaimer: This article represents the opinion of the FXOpen INT company only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the the FXOpen INT, nor is it to be considered financial advice.
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The Consumer Price Index for Australia was released this morning. According to ForexFactory:
→ CPI in quarterly terms: actual = 1.0%, expected = 0.8%, previous value = 0.6%;
→ CPI in annual terms: actual = 3.5%, expected = 3.4%, previous value = 3.4%.
Rising inflation figures suggest that the Reserve Bank of Australia's tight monetary policy may continue beyond expectations - which is why the Australian dollar has jumped higher relative to other currencies.
Thus, from the minimum of the year against the US dollar, recorded on April 19, the Ausssie rose in price by more than 2%.
[You must be registered and logged in to see this image.]
TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG
Disclaimer: This article represents the opinion of the FXOpen INT company only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the the FXOpen INT, nor is it to be considered financial advice.