AUD a few points lower after monthly (February) CPI data

The data on Australian inflation in February is here:

• Australian monthly CPI (February) 3.4% y/y (vs. 3.5% expected)

A slight beat on the headline, but if you check out that post you’ll note that both measures of underlying inflation are higher than the headline. And, its called ‘underlying’ inflation for a reason and points to the danger of a rise, or at least sustained, sticky high, headline inflation still ahead.

The more accurate quarterly CPI data is due on April 24.

AUD/USD has dipped a little, it headed lower into the data. Still, not much of a move:

This article was written by Eamonn Sheridan at www.forexlive.com.