AUD/USD Stays At an Advantage Before Important Inflation Data

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AUS/USD was pressurized during the close of the American session last Friday. The pair reduced by 0.14% from as high as 0.6977 to as low as 0.6893. The USD has also supported the increase in the value of AUD, as the rate increase anticipation declines.

Also, the American dollar was pressurized last week because of the improving mood. The ECB (European Central Bank) increased its interest rate higher than anticipated. Furthermore, the homogenous United State data for last week has brought the financial market against the anticipation of a huge United State rate increase. Consequently, this has burdened the United States’ yield.

AUD/USD Stays at Advantage Before Important Inflation Data

More Price dictating Factors for AUD/USD

At the same time, the Australian CPI (Consumer Price Index), from this new week is anticipated to come in aligned with the Hawkish RBA (Reserve Bank of Australia) rhetoric. Additionally, TD securities analysts disclosed that oversized news per figure against the general agreement should be expected. Consequently, these affect the price of the AUD/USD.

Concerning the extent to which the Reserve Bank of Australia will control inflation, NAB anticipates it to terminate by the end of 2022 at 2.85%. Meanwhile, Westpac foresees the terminal at 3.35% in the second month of 2023. However, the two bodies predicted that the terminal will be at 2.6%. Markets are weighing in a 15% possibility of a 75 bps rate increase come next month (August).

Finally, analysts at Rabobank anticipate AUD/USD to stand near the present level on a one to three-month view.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.