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AUD Down, Bond Futures Higher Post CPI Miss


The AUD/USD is tracking weaker after the data prints. Most focus is likely to rest on the July CPI y/y print, which came in at 4.9% (versus 5.2% forecast). Other data on Q2 construction work done was also weaker, as were building approvals for July (-8.1%m/m, versus -0.5% forecast). The currency tracks near 0.6455 currently, post data lows were at 0.6450.. We were near 0.6470/75 prior to the prints. In the bond space, futures are +0.06 for XM and YM +0.07. More details to follow.

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