Breaking: Australia Q1 RBA trimmed mean CPI +1.2% QoQ misses expectations
|
The quarterly Consumer Price Index (CPI) published by the Australian Bureau of Statistics is out as follows:
- Australia q1 RBA trimmed mean CPI +1.2 pct QoQ (Reuters poll +1.4 pct).
- Q1 CPI (all groups) +1.4 pct QoQ (Reuters poll +1.3 pct).
- Q1 RBA weighted median CPI +1.2 pct QoQ (Reuters poll +1.3 pct).
- Q1 RBA trimmed mean CPI +6.6 pct YoY (Reuters poll +6.7 pct).
- Q1 CPI (all groups) +7 pct YoY (Reuters poll +6.9 pct).
- Q1 RBA weighted median CPI +5.8 pct YoY (Reuters poll +5.9 pct).
AUD/USD update
The price was rejected at the 50% mean reversion mark ahead of the data and was forced lower on the outcome from the 38.2% Fibonacci area to a fresh low in the bear cycle at 0.6611.
About Australia´s Consumer Price Index
The quarterly Consumer Price Index (CPI) published by the Australian Bureau of Statistics (ABS) has a significant impact on the market and the AUD valuation. The gauge is closely watched by the Reserve Bank of Australia (RBA), in order to achieve its inflation mandate, which has major monetary policy implications. Rising consumer prices tend to be AUD bullish, as the RBA could hike interest rates to maintain its inflation target. The data is released nearly 25 days after the quarter ends.
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. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.