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Thomson Reuters
Apr 23 - 11:00 AM
AUD/USD: Expecting A Big Upside Surprise In Tonight's AU CPI; A Likely Tailwind Towards 0.72 - TD
First appeared on eFXplus on Apr 23 - 08:46 AM

TD Research discusses its expectation for AU CPI tonight and expects a big upside surprise in which would reinforce support in both AUD/USD and AUD/CAD.

"Monthly headline inflation rose modestly in the Mar qtr, +0.5%/q monthly average and +0.4%/q mid-month of the quarter. The Inflation Gauge measure tends to slightly underestimate headline CPI for Q1, so we stay with 'top down' headline CPI at +0.5%/q and 1.8%/y. Consensus is weaker at +0.2%/q,' TD projects. 


"An upside surprise to give the AUD the briefest of tailwinds towards $US0.72, a level that hasn't broken since the RBA switched to 'balanced' risks. Expect sellers to emerge ahead of the ANZAC Day holiday the next day," TD adds. 

TD Bank Research/Market Commentary


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