Australia’s inflation is decelerating. The headline consumer price index rose by 0.5% in Q4, lower than 0.7% seen in Q3 and expected for the last quarter as well. Trimmed Mean CPI (known as core inflation elsewhere) also fell short of early predictions, advancing by 0.4% instead of 0.5% projected. Also year over year, inflation missed with 1.5% against 1.6% estimated and core inflation is also at 1.6%, in this case, according to forecast. Australia publishes its CPI data only once per quarter, enhancing the impact of every release and we are seeing the impact. This time, the data feeds into the first meeting of the Reserve Bank of Australia after the January break. AUD/USD had already topped the 0.76 line ahead of the event and is down some 0.5% on the day to 0.7536 at the time of writing. Lower inflation means lower chances for a rate hike from the RBA anytime soon. Will they even consider cutting rates? The new governor, Phillip Lowe, seems relatively reluctant to rock the boat too much. Rocking the boat did not come from Moody’s which left Australia’s perfect AAA rating intact. Support for AUD/USD awaits at 0.7520, the immediate bottom of the range. 0.7375 is the next cushion to the downside. On the topside, 0.76 is the immediate level of resistance. More: AUD/USD: Upward Correction Targeting 0.7700/20 Against 0.7150/00 – NAB Here is the hourly chart of A$/USD: Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next USD consolidates the Trump Dump – Live Market Open from Yohay Elam 6 years Australia's inflation is decelerating. The headline consumer price index rose by 0.5% in Q4, lower than 0.7% seen in Q3 and expected for the last quarter as well. Trimmed Mean CPI (known as core inflation elsewhere) also fell short of early predictions, advancing by 0.4% instead of 0.5% projected. Also year over year, inflation missed with 1.5% against 1.6% estimated and core inflation is also at 1.6%, in this case, according to forecast. Australia publishes its CPI data only once per quarter, enhancing the impact of every release and we are seeing the impact. This time, the data feeds into… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
