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The Australian dollar fell for a second session after December monthly CPI slowed to 3.4% year on year from 4.3% and quarterly trimmed-mean inflation came in below forecasts. Traders now price up to two RBA rate cuts in 2024, while the Fed is expected to hold rates steady.
Softer Australian inflation raises the likelihood of RBA cuts, which pressures the Aussie currency. A weaker AUD can make Australian grain and sorghum exports more competitive.
fxstreet.comAkhtar FaruquiFeb 1, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
