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Apr 26 - 06:55 AM

AUD/USD - Drops To Six-Week Low By 0.66 On Soft Australia CPI

By Rob Howard  —  Apr 26 - 04:50 AM
  • AUD/USD falls to 0.6602 on softer than expected Australian inflation data

  • Trimmed mean measure 6.6% vs 6.7% f/c. 0.6602 is lowest level since March 15

  • Below-forecast CPI is blow for hawks advocating RBA rate rise next week

  • Probability of 25 bps RBA hike on May 2 down to 9% (from 20%) 0#RBAWATCH

  • 0.6639 was AUD/USD high in Asia (ahead of the Australian inflation data)

  • 0.6590 (March 15 low) and 0.6565 (March low) are support levels below 0.6600

Source:
Refinitiv IFR Research/Market Commentary

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