Australia weighted CPI YoY 3.5% versus 3.4% expected

• Prior month 3.8%
• Weighted CPI year on year 3.5% vs 3.4% estimate
• CPI SA YoY 3.6 % vs 3.8% prior revised from 3.9%
• CPI SA MoM 0.0% versus 0.3% last month (revised from 0.4%)

The good news is the CPI is back on a downward trajectory, but was higher than expectations of 3.4% (which was the low back in December and January).

The AUDUSD moved higher and above the ceiline near 0.6798 but fell short of the 61.8% of the move down from the 2023 high at 0.6818. Drats!

This article was written by Greg Michalowski at www.forexlive.com.