Breaking: AUD/USD rallies hard on Aussie CPI beat

FXStreet Team FXStreet

The monthly Consumer Price Index (YoY), released by the RBA and republished by the Australian Bureau of Statistics has arrived as follows:

Australia Q4 Headline CPI 1.9% QoQ vs. the expected 1.6%, the prior was 1.8%
Trimmed mean +1.7 pct QoQ (Reuters poll +1.5 pct).
Q4 (all groups) +1.9 pct QoQ (Reuters poll +1.6 pct).
RBA weighted median CPI +1.6 pct QoQ (Reuters poll +1.4 pct).
RBA Trimmed mean CPI +6.9 pct YoY (Reuters poll +6.5 pct).

AUD/USD update

AUD/USD is rallying hard to a fresh bull cycle high near 0.7080.

About the monthly CPI

This is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchasing power of AUD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish). Note: This indicator started to be published in 2022 and it updates the price change for the last 12 months in Australia in a monthly basis, instead of the quarterly period of the main Australian CPI.

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FXStreet Team

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