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Jan 24 - 07:55 AM

AUD/USD - Holds Above 0.70 Before Australian CPI Data

By Rob Howard  —  Jan 24 - 06:10 AM
  • AUD/USD has traded 39 pip range thus far Tuesday; 0.7010-0.7049 (high first)

  • 0.7049 is highest level since Jan 18 (0.7063 was five-month peak that day)

  • 0.6963 was NY low Monday - before U.S. stock gains lifted risk-sensitive AUD

  • Australian inflation data due 0030 GMT; 7.5% YY forecast for Q4 CPI

  • Hotter or cooler than expected CPI data could impact RBA rate expectations

  • Money markets currently price 15 bps RBA hike to 3.25% on Feb 7 0#RBAWATCH

Source:
Refinitiv IFR Research/Market Commentary

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