Australia’s monthly Consumer Price Index (CPI) is scheduled for release on 29 July at 01:30 UTC, making it the headline event of the Asia-Pacific session and the key data point for Australian dollar crosses.
What the CPI m/m release measures
The CPI m/m tracks the change in the price of a basket of goods and services purchased by households from one month to the next. It is the most widely followed gauge of consumer inflation and feeds directly into how markets frame the Reserve Bank of Australia’s policy backdrop, which is why it carries a high-impact rating.
The forecast is 0.2%, which would mark a shift from the previous reading of -0.7%. Traders watch the gap between the released figure and expectations, since surprises on either side of consensus tend to draw the most attention to Australian dollar pricing.
How the AUD pairs are trading
Heading into the release, the biggest mover on our feed is GBPAUD, down 0.45% at 1.89993. EURAUD is easing 0.23% to 1.62524.
Among the Aussie-led crosses, AUDNZD is up 0.18% at 1.20824 and AUDCAD is firmer by 0.12% at 0.98613. AUDCHF is marginally higher, up 0.07% at 0.57109.
AUDUSD sits little changed, down 0.06% at 0.69884, keeping the benchmark pair close to flat ahead of the data.
The CPI print is watched as a read on the pace of Australian consumer inflation and the context it sets around the monetary policy outlook.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
