Aussie rises solidly on CPI data
On Wednesday, the Australian dollar earned solidly after consumer prices edged up more than expected, although a calculated measure utilized by the major bank drew notice, while Japan’s currency dropped on corporate prices data.
The currency pair USD/JPY traded at 104.33, soaring 0.10%, while AUD/USD reached 0.7688, +0.55%.
In Japan, in September, the corporate services price index ascended 0.3% for the 39th straight soar after a 0.2% surge in August and more than the 0.2% leap observed year-on-year.
In Australia, third quarter CPI added 0.7%, thus beating the 0.5% growth expected quarter-on-quarter and also set a 1.3% pace year-on-year, ruining expectations too.
The Reserve Bank of Australia's inflation target band turns to be 2%-3%. The given figure appeared to be lower than expected and at a record minimum owing to an upward update in last data. The data keeps making a case for more RBA easing.
The US dollar index, estimating the greenback’s value against six main currencies, added 0.09%, getting to 98.78.