AUD is getting weaker. Overview for 26.04.2023
The Australian dollar against the US dollar is sliding deeper down. The current quote is 0.6605.
The Australian statistics of today demonstrate that the CPI in the first quarter of 2023 dropped to 1.4% q/q after growing by 1.9% in Q4, 2022. Year by year, inflation amounted to 6.3%. This is lower than before.
Well, inflation has left the 33-year high. Base prices also stepped back.
The market reaction can be explained as follows: the decrease in prices might become a signal for the Reserve Bank of Australia to extend the pause in lifting the interest rate. If so, the rate of 3.6% per annum will become the peak, and a decline will follow here.
This is what presses the Aussie down.
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