AUDUSD continues falling; the statistics were disappointing.
The Australian Dollar is falling against the USD on Tuesday. The current quote for the instrument is 0.7148.
The Australian CPI showed 1.3% q/q in the fourth quarter after being 0.8% q/q the quarter before and against the expected reading of 0.1% q/q. On YoY, the indicator skyrocketed by 3.5% after adding 3.0% in the previous quarter and against the expected reading of 3.2%. Both numbers are significantly higher than the average expectations of the Reserve Bank of Australia.
The Australian regulator is scheduled to have the meeting next week, which will be interesting, to say the least: the RBA is expected to announce the QE programme closure or even raise the benchmark interest rate. In this light, the inflation data may serve as an additional reason in favour of the tightening of the monetary policy.
The NAB Business Confidence dropped to -12 points in December against the previous reading of 12 points. The situation is much worse than it was during the Delta strain outbreak. The components show a sharp drop in employment, down to 2 points, while the sales remained unchanged at 14 points.
Source: Roboforex
