Aussie goes down on weaker-than-expected Q3 CPI

Aussie goes down on weaker-than-expected Q3 CPI

On Wednesday, the Australian dollar tumbled in Asia because consumer prices data came in weaker than anticipated and also put doubt into rate lift forecasts for 2018.

The currency pair AUD/USD hit 0.7730, sliding 0.59%, USD/JPY got to 113.88, decreasing 0.03%. As for GBP/USD, this currency pair reached 1.3135, decreasing 0.01%.

Australia posted CPI figures for the third quarter with a 0.6% leapt on quarter, which is below the 0.8% ascend expected as well as 1.8% soar on year. That’s below the 2.0% tempo observed.

Tracking the greenback’s value against a trade-weighted basket of six rivals, the US dollar index added just 0.01% sticking to 93.84.

Overnight, the US currency grew versus a basket of main currencies, underpinned by a pair of economic reports, which topped expectations raising investor optimism on the outlook for the American economy.

Investor optimism inched up o the outlook for a solid quarter of American economic surge after data disclosed manufacturing and services activity added more-than-expected this month.


What to Trade on August 29 - September 2?
What to Trade on August 29 - September 2?

Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.

USD Moves Weird Ahead of CPI
USD Moves Weird Ahead of CPI

The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.

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FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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