Andrew Ticehurst, Research Analyst at Nomura, notes that Australia’s headline CPI inflation rose by 0.4% q-o-q relative to consensus and Nomura forecasts of 0.5% q-o-q, while trimmed mean CPI printed at 0.5% q-o-q, in line with consensus and one-tenth below their expectation. Key Quotes “The data also showed modest upward revisions to Q1 CPI inflation, with the trimmed mean measure revised from 0.5% to 0.6% q-o-q, or from 0.53% to 0.56% q-o-q to two decimal places.” “We characterise this data as broadly neutral, with headline CPI a fraction below consensus, trimmed CPI in line with consensus and modest upward revisions to Q1.” “With trimmed mean CPI remaining at 1.9% y-o-y, the RBA can continue to characterise underlying inflation as running a fraction below the bottom of its medium term 2-3% target band. Given global risks, gently declining house prices and uncertain funding pressures, we believe it can continue to exercise patience, watching closely but doing little with its cash rate.” “We continue to pencil in two 25bp rate hikes in 2019 but, in the same breath, note that our conviction here is quite low.” “We continue to see fair-value for AUD at around 74 US cents, but see risk as leaning to the lower side, reflecting our cautious views on Asia and China.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY treading beyond 111.00 on quiet markets for Wednesday FX Street 5 years Andrew Ticehurst, Research Analyst at Nomura, notes that Australia's headline CPI inflation rose by 0.4% q-o-q relative to consensus and Nomura forecasts of 0.5% q-o-q, while trimmed mean CPI printed at 0.5% q-o-q, in line with consensus and one-tenth below their expectation. Key Quotes "The data also showed modest upward revisions to Q1 CPI inflation, with the trimmed mean measure revised from 0.5% to 0.6% q-o-q, or from 0.53% to 0.56% q-o-q to two decimal places." "We characterise this data as broadly neutral, with headline CPI a fraction below consensus, trimmed CPI in line with consensus and modest upward revisions… 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.