AUD PPI q/q comes in at 1.3% against 0.7% consensus
| Pair | Now | Since publish |
|---|---|---|
| AUDUSD | — | — |
The Australian Producer Price Index, PPI q/q, was released at 1.3%. This figure came in significantly above the consensus expectation of 0.7%. The actual print also marked a substantial increase from the previous quarter’s 0.4%. The surprise against consensus was 85.7%.
Following the release, market reaction in AUD pairs has been relatively subdued within the first 15 minutes. AUDCAD moved +0.3 pips, AUDCHF moved +2.0 pips, and AUDJPY moved +4.9 pips. AUDNZD saw a +0.8 pip change, while AUDUSD moved -0.8 pips. EURAUD moved -2.3 pips and GBPAUD moved -4.8 pips. These initial moves are generally small when compared to the median 1-hour moves observed after past PPI releases, which typically range from 4 to 9 pips across these pairs. For instance, AUDJPY’s median 1-hour move is 8 pips, and AUDUSD’s is 6 pips.