AUD/USD POSTS GAIN, YET DIVE BELOW 0.6500 AMID AUSSIE CPI, AHEAD OF US GDP
- AUD/USD retreats from a peak of 0.6529 following an unexpected surge in Australian inflation figures.
- The US Dollar Index edges higher, influenced by solid US economic indicators and investor caution ahead of key GDP report.
- Despite a strong Q1 inflation report suggesting robust Australian economic activity, expectations for an RBA rate cut linger among analysts.
The Aussie Dollar finished Wednesday’s session with decent gains of 0.15% against the US Dollar, yet it retreated from weekly highs of 0.6529, which it hit after a hotter-than-expected inflation report. Economic data from the United States (US) boosted the Greenback, which, according to the US Dollar Index (DXY), gained 0.13%, up to 105.82. As the Asian session begins, the AUD/USD trades at 0.6495. down 0.02%.
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