AUD/USD braces for key inflation numbers below 0.6300 amid sluggish markets – by anilpanchal7 AUDUSD Inflation RiskAppetite Fed RBA
AUD/USD dropped to a fresh low since March 2020 the previous day before bouncing off 0.6235 amid the US dollar’s pullback and improvement in the. However, broad fears and a lack of major surprises, as well as anxiety ahead of today’s key data, kept the quote captive afterward.
Elsewhere, US Producer Price Index declined to 8.5% YoY in September versus 8.4% expected and 8.7% prior. Further, the Core PPI eased to 7.2% versus 7.3% previous readings and market forecasts. At home, Reserve Bank of Australia Assistant Governor Luci Ellis mentioned, that the central bank’s policy is no longer in an expansionary place. However, comments like, “The neutral rate was a moving target and hard to determine at any stage in time,” seemed to have weighed on the AUD/USD prices earlier on Wednesday.Consumer Price Index
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