The monthly inflation data always needs to be read with care (more on why in the posts above). The January data today showed headline inflation coming in at 2.5% y/y, a touch below median estimates, in line with the previous month’s reading, and bang on the mid-point of the Reserve Bank of Australia 2 - 3% target band, Its this mid-point that the Bank and the government have agreed to as a target. The core reading, Trimmed Mean, however, was higher at 2.8%, up from December’s 2.7%.
The details in the data are not indicative of another Reserve Bank of Australia rate cut any time soon., The Bank will be eyeing the ‘official’ quarterly data due in late April.
The AUD moved more or less inline with other major FX, initially ticking a little stronger against the USD before dropping away.
JPY tracked a similar pattern, with USD/JPY seeing lows under 148.70 briefly before recovering to circa 149.50.
In US political news Trump scored a big win for his 2025 agenda, with the US House passing the budget bill that includes extending Trump’s 2017 tax cuts, provisions for deportation funding, stricter border security, energy deregulation, and increased military spending.
Chinese equities, both mainland and in Hong Kong had a strong session.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( ForexLive Asia-Pacific FX news wrap: Australian monthly CPI not enough for another RBA cut )
Also on site :
- What to Know About Mohammad Sinwar, the Hamas Leader Targeted by Israel
- Justin Bieber's Unsettling Filtered Videos on 'Gucci,' Alaska & Faith Escalate Well-Being Concerns
- Children evacuated from Swindon school after threats of ‘suspicious package’