USDJPY
EURUSD
AUDUSD
RBA Economist Plumb Focuses on CPI for Forecasting
Key Takeaways (30s Read)
RBA economist Plumb emphasizes the importance of CPI data for economic forecasting.
RBA economist Plumb stresses the importance of quarterly CPI data for forecasting. While inflation is below its 2022 peak, recent strength suggests rising economic pressures, leading to an increase in interest rates to 3.85%. The AUDUSD moved up to 0.71464 but has since retraced to 0.7014. Currently, the pair is below the 200-hour and 100-hour moving averages, suggesting a shift to seller control. However, the 4-hour 100-bar moving average at 0.70435 remains a key support level. A break below this level could lead to further declines toward last week's low at 0.70142.
AI Analyst
AI Opinion
"The focus of RBA's Plumb on CPI signals important insights for market participants. With inflation tracking above expectations and recent interest rate hikes, the current movements of the AUDUSD suggest a potential shift from an uptrend. The short-term moving averages are acting as resistances, and maintaining support will be critical. The 4-hour 100-bar moving average is pivotal; a break below this could signal further declines. Close attention must be paid to ongoing inflation forecasts and interest rate policies."
RECOMMENDED BROKER Trusted Broker
Maximize This Opportunity.
Turn AI-detected market inefficiencies into profit with industry-leading specs. There's a reason pros choose Exness.
Raw Spreads
0.0 pips~
Leverage
Unlimited
Execution
Instant
AI Market Analysis Team
Combining advanced AI algorithms with professional trader insights. We analyze market drivers 24/7 to provide objective trading scenarios.