CPI y/y (AUD) comes in at 3.9% against 4.7% consensus

Australia’s Consumer Price Index, year over year, was reported at 3.9%. This figure came in below the consensus expectation of 4.7%, representing a -17.0% surprise against forecasts. The actual print matched the previous reading of 3.9%.

Following the release, the Australian dollar showed varied movement against major pairs. AUDCAD traded +19 pips higher 15 minutes after the announcement, while AUDCHF gained +11 pips. AUDJPY moved +11 pips up, and AUDNZD rose +12 pips. AUDUSD saw a +9.1 pip increase. Conversely, EURAUD declined by -23 pips, and GBPAUD fell by -20 pips. These initial movements are generally smaller when compared to the median 1-hour moves observed after past releases, such as AUDUSD’s median of 17 pips or EURAUD’s median of 41 pips. Historically, the direction reliability for AUDUSD after such releases has been 66%.