Australian CPI data due today - preview and how it'll impact AUD and RBA

Q3 inflation data from Australia is due at 0030GMT on Wednesday 30 October 2019

For the expected and priors, posted here earlier:

• Here is what's on the economic calendar in Asia today

Also, for previews, posted here earlier:

• Q3 CPI due Wednesday - preview
• RBA: CPI data key for hints of rate cut
• Australian Q3 inflation data - early preview
• Week ahead view for the AUD
• Soft Australian Q3 CPI this week could increase chance of RBA cut in Nov - Citi

For the RBA these are important data. Given inflation is well below target the result would have to come in well above what is expected to dial back the RBA easing bias. Nevertheless, any tick above expected will be AUD positive, at the margin. But, yeah, it'd have to be a big beat to much impact. On the other hand, short positioning in AUD could trigger some buying.

A result under expectations would further cement the RBA easing bias even further and should be an AUD negative input.

RBA Gov Lowe spoke Tuesday, from Justin's report:

• He certainly doesn't sound like someone who is in a hurry to cut rates by another 25 bps again.

And, more here