RBA Trimmed Mean CPI q/q comes in at 1% against 0.8% consensus

The RBA Trimmed Mean CPI q/q for Australia was released today, showing an actual figure of 1%. This print exceeded the consensus expectation of 0.8%, representing a 25.0% surprise against the forecast. The previous quarter’s reading was also 0.8%.

Following the release, the Australian dollar showed varied reactions across major pairs over the initial 15 minutes. AUDCAD moved -27 pips, AUDCHF moved -17 pips, AUDJPY moved -38 pips, AUDNZD moved -23 pips, and AUDUSD moved -22 pips. Conversely, EURAUD moved +46 pips and GBPAUD moved +50 pips. For context, the 15-minute moves for AUDCAD, AUDCHF, AUDNZD, and AUDUSD were near or above their median 1-hour moves of 21 pips, 16 pips, 22 pips, and 17 pips respectively. AUDJPY’s -38 pips move was significantly above its median 1-hour move of 20 pips. EURAUD’s +46 pips move was above its median 1-hour move of 38 pips, and GBPAUD’s +50 pips move was above its median 1-hour move of 45 pips.