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A$ Rallies Post CPI Beat, Local Bonds Drop

AUSTRALIA DATA
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Australian CPI has printed stronger than expected. The headline q/q was 1.0% (forecast 0.8%), while the trimmed mean rose 1.0% q/q (0.8% forecast). We were still down in y/y terms but not as much as forecast. More details to follow.

  • In the rates space, ym is -11, xm is -7.
  • AUD/USD has risen around towards 0.6520, versus pre data levels of near 0.6495. The currency is now up nearly 0.50% for the session and outperforming the rest of the G10.
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Australian CPI has printed stronger than expected. The headline q/q was 1.0% (forecast 0.8%), while the trimmed mean rose 1.0% q/q (0.8% forecast). We were still down in y/y terms but not as much as forecast. More details to follow.

  • In the rates space, ym is -11, xm is -7.
  • AUD/USD has risen around towards 0.6520, versus pre data levels of near 0.6495. The currency is now up nearly 0.50% for the session and outperforming the rest of the G10.