According to analysts at TD Securities, AUD will take centre stage with the upcoming release of CPI.
Key Quotes
“We think the market is viewing this report as a potential harbinger for an RBA shift in bias (though its modest tightening stance was recently reaffirmed). With the markets pricing in a decent chance of a cut this year, and bearish sentiment built in the currency (as far as positioning goes), an on consensus CPI read could lead to a relief rally in AUD.”
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