Aussie CPI (YoY) Oct: 6.9% vs. est 7.6% and prev 7.3% fails to excite – by fx_ross CPI AUDUSD
Its coverage is only partial, so there is less weight given to the data in markets that await the quarterly report as the benchmark report for the Reserve Bank of AustraliaWestpac looks for quarterly inflation to peak at 8.1% in Q4.However, the price is on the backside of the trend so there could be a phase of distribution to play out over the coming days between a wide 0.6800/ 0.6600 range for the parameters hold.
Thereafter the key for the RBA outlook is whether wages growth remains consistent with a return of inflation to target as we assume – Governor Lowe has previously cited WPI wages growth of around 3½-4.0% as being consistent assuming a 1% productivity assumption. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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