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Oct 24 - 07:55 PM

AUD/USD - Opens Higher As AUD Outperforms Ahead Of Key Aus CPI

By John Noonan  —  Oct 24 - 05:50 PM
  • AUD/USD opens +0.33% after AUD gained against all major currencies

  • Higher commodities and hawkish comments from RBA Governor Bullock nL1N3BU0TUnS9N38X023

  • Key Q3 Aus CPI out today and will likely shape RBA expectations

  • Focus on weighted & trimmed mean CPI -both expected to come in at +5.0% Y/Y

  • A hotter than expected outcome may convince RBA to hike on Nov 7

  • AUD/USD resistance @ 55-day MA @ 0.6406- break would confirm bottom in place

  • Support at 10-day MA at 0.6334 and yesterday's 0.6332 low

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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