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The Aussie is the biggest loser of the week after a disappointing CPI updates renews rate cut speculation.

Overlay of AUD Pairs & Gold (Black Line): 1-Hour Forex Chart
Overlay of AUD Pairs & Gold (Black Line): 1-Hour Forex Chart

Australian Headlines and Economic data

Monday:

Tuesday:

Wednesday:

  • Australia’s flat CPI raises prospect of rate cuts – this was the event of the week for the Aussie, and with expectations of it coming below the previous read, it’s likely that is the reason why we saw Aussie selling early in the week on top of the news from China that stimulative policy will slow.  The disappointing read is also likely the direct cause of the Aussie’s fall on the session and the pressure persisted throughout the rest of the week.

Friday: