AUD/USD marches towards 0.7136 hurdle on upbeat Aussie inflation, US GDP, Fed eyed – by anilpanchal7 AUDUSD Inflation RiskAppetite GDP Fed
Trimmed Mean CPI jumped to 6.9% YoY compared to 6.5% market forecasts and 6.1% previous readings. Further, the Monthly CPI rose to 8.4% from 7.3% previous readings and 7.7% market forecasts.
After the mixed data, Fed fund futures signal the market’s receding hawkish bias. “Fed fund futures see only two more quarter-point rate hikes by the Fed to a peak of around 5% by June, before it starts cutting rates later in the year. The Federal Reserve itself has insisted it still has 75 bps of increases in the pipeline,” said Reuters.
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AUD/USD aptly portrays market’s inaction below 0.7000, Aussie inflation, US GDP in focusAUD/USD aptly portrays market’s inaction below 0.7000, Aussie inflation, US GDP in focus – by anilpanchal7 AUDUSD RiskAppetite GDP Inflation Fed
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