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AUDUSD Rises After Higher Than Expected CPI Data

AUDUSD jumped higher after stronger-than-expected Australian CPI figures this morning.

The chances of a hold for the August meeting fell to 70% from 89% previously, while the chances of an increase for the September meeting rose to 35% from 12% previously.

It will be interesting to see if this triggers an increase in the bank’s share. Although it mentioned discussing the possibility of a hike, the bank also mentioned that economic momentum was weak, with slower growth and higher unemployment. Another hike would likely make both problems worse, so the bank currently finds itself in a difficult situation.

AUDUSD jumps on hotter CPI data

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