The Australian dollar gets a boost on inflation data
Australia released retail sales and consumer price index data that were higher than expected.
Australia released retail sales and consumer price index data that were higher than expected. Consumer prices rose to 7.3% in annualised terms after a previous increase of 6.9%. Retail sales increased by 1.4% against forecasts of 0.6% bump. These data provided short-term support to the Australian dollar. If we factor in the fact that the AUD/USD pair climbed above its 200-day moving average for the first time since April 2022, we can anticipate it rising further.
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