By Krishna K — Jun 25 - 07:25 PM
AUD/USD consolidates after closing 0.13% lower Tue, eyes AU CPI data Wed
Australia's May consumer prices expected to fall around 0.2%
But annual rate will likely pick up to 3.8% from 3.6%
Data key for RBA rate expectations, will feed into June quarter CPI report
C.bank struck hawkish note last week, warned of upside risks to inflation
Markets price in 12% chance of Aug rate hike, now barely price a cut by May
High May inflation reading will see rate hike probability rise, support AUD
Speech by RBA Assistant Governor Christopher Kent on Wednesday awaited
Resistance 0.6675-80, 0.6700, support 0.6625-30, 0.6610-15
Trade a broad 0.6580-0.6710 range; Mon global range 0.66725-0.6648 range
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Source:
Refinitiv IFR Research/Market Commentary