# FX Daily: Australian inflation weighs on risk assets | articles | ING THINK

> ING notes that Australia's above-consensus 3.6% April CPI has hit the local bond market and removes the chance of an RBA rate cut this year. The note also highlights that US yields are pushing USD/JPY toward the 157.50 to 158.00 intervention zone.

- Date: 2024-05-29 · published 2024-05-29T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/30530-fx-daily-australian-inflation-weighs-on-risk-assets-articles-ing-think
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher-for-longer rates in Australia and the US keep the dollar firm, which weighs modestly on dollar-denominated commodity prices. The direct effect on feed markets is small.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-03-13 | [FX daily: Dislocation, dislocation, dislocation \| articles \| ING THINK](https://feedsoft.ai/events/6276-fx-daily-dislocation-dislocation-dislocation-articles-ing-think.md) | +3.8% | +1.6% |
| DXY | 2024-02-05 | [FX Daily: Flip Flop \| articles \| ING THINK](https://feedsoft.ai/events/31892-fx-daily-flip-flop-articles-ing-think.md) | +0.1% | -0.0% |
| DXY | 2024-04-17 | [FX Daily: The big unwinding \| articles \| ING THINK](https://feedsoft.ai/events/30940-fx-daily-the-big-unwinding-articles-ing-think.md) | -0.3% | -1.0% |
| DXY | 2024-02-29 | [FX Daily: US and eurozone inflation may endorse market pricing \| articles \| ING THINK](https://feedsoft.ai/events/31880-fx-daily-us-and-eurozone-inflation-may-endorse-market-pricing-articles-ing-think.md) | -0.5% | -0.1% |
| DXY | 2023-10-25 | [FX Daily: Hawks versus data, part one \| articles \| ING THINK](https://feedsoft.ai/events/33851-fx-daily-hawks-versus-data-part-one-articles-ing-think.md) | +0.2% | -2.4% |

## Sources

- think.ing.com: https://think.ing.com/articles/fx-daily-australian-inflation-weighs-on-risk-assets/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.