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Australian CPI rose 1.2% in Q3, beating expectations of 1.1%, with fuel costs the largest contributor after a spike in global oil prices. The reading reinforced bets that the Reserve Bank of Australia will hike rates again.
Higher fuel inflation reflects elevated oil prices that raise diesel and freight costs for feed, while the rate-hike outlook supports the AUD.
fvbb.comOct 25, 2023After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 105 past bullish macro events, ULSD / Diesel moved a median -0.4% over 5 sessions (45% higher; middle half -3.4% to +1.8%), and +1.2% over 20.
Not 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.
