AUD

Australian March 2024 Private Sector Credit +0.3% m/m (expected +0.4%)

Australian March 2024 Retail Sales -0.4% m/m (expected +0.2%)

• +0.8% y/y

CBA moves its forecast for an RBA rate cut to November (from September)

• Commonwealth Bank of Australia is one of Australia's 'big four' banks

If demographics is destiny then high spending could stick

• Eyes are on house-rich baby boomers

AUDUSD working on 7th day higher but 100 day MA stalls the rally at session highs.

• The stall at the 100-day MA gives the sellers some hope that a corrective move lower is possible in the AUDUSD.

AUD/USD sees latest rebound run into next key resistance level

• The pair eases back after testing its 100-day moving average earlier today

CE analysts forecast an RBA 25bp interest rate hike at its next meeting, May 7

• Overshooting inflation citied

AUDUSD Technical Analysis

• The AUDUSD pair continues to rally amid softer US Dollar. What’s next?

AUD/USD hopes to keep technical break higher ahead of US PCE price data later

• The pair is making a case for an extension higher towards the end of the week

Australia Q1 PPI +4.3% y/y vs +4.1% prior

• Australian Q1 2024 producer price index

AUDUSD ups and downs as fundamental news keeps volatility high for the pair.

• High CPI in Australia supported the AUD, but higher PCE inflation in the US rotates the pair back lower today

AUD/USD nudges higher to test key technical resistance again

• The dollar is mostly lower across the board in European morning trade

ANZ sticks to their forecast for a November 2024 interest rate cut from the RBA

• A November rate cut is the bank's base case, but the risk is later

Australia's inflation nightmare - Australia's inflation rate is the highest globally

• The Reserve Bank of Australia is like a 'roo in the headlights

Higher Australian CPI sent the AUDUSD higher, but the 200-day MA stalled the rally.

• Swing area between 0.6476 to 0.6486 is now support. The 100-hour MA and 50% of the April range is between 200 -day MA above, and swing area below at 0.65028.