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AU Monthly CPI Slightly Below Forecast, AUD & OIS Lower

AUSTRALIA DATA

The monthly CPI printed slightly weaker than expected at 3.4% y/y, versus 3.5% projected (3.4% was the prior outcome). More details to follow.

  • AUD/USD is offered post the release. We are back to 0.6520/25, off around 0.15%. We were above 0.6530 prior to the print. In the bond space, ym is +4, while xm is +2.5. OIS 3bps softer for early 2025 meetings.

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