*(AU) AUSTRALIA Q1 CONSUMER PRICES (CPI) Q/Q: 0.5% V 0.6%E; Y/Y: 2.1% (highest since Q2 of 2014) V 2.2%E; TRIMMED MEAN Q/Q: 0.5% V 0.5%E ; Y/Y: 1.9% (5-quarter high) V 1.8%E- Prior Trimmed Mean q/q revised higher to 0.5% from 0.4% – Source TradeTheNews.com
The Australia CPI came in below expectations, and the Aussie falls over 25 pips below .7520 in the first wave of stop losses. Given the FX market was likely playing for a stronger print based on the New Zealand inflation correlations after last weeks higher NZ CPI, we could see some more selling. However, there has been a very tepid initial reaction on the rates markets suggesting this was priced into the result
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.