# Australian Dollar loses ground on weaker CPI data, focus on US Fed interest rate decision

> 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.

- Date: 2024-02-01 · published 2024-02-01T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/32398-australian-dollar-loses-ground-on-weaker-cpi-data-focus-on-us-fed-interest-rate
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

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.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- fxstreet.com: https://www.fxstreet.com/news/australian-dollar-loses-ground-after-the-softer-aussie-inflation-data-fed-decision-eyed-202401310233

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