(MENAFN- DailyFX) Talking Points:
The Australian Dollar fell after a set of 2Q CPI figures crossed the wires Headline CPI rate rose 1.9% y/y versus 2.2% expected and 2.1% in the 1Q A speech by RBA Governor Philip Lowe may see him cooling rate hike bets What do retail traders' buy/sell decisions hint about the Australian Dollar trend?.
The Australian Dollar depreciated against its major counterparts after a softer set of inflation measurements crossed the wires. Headline CPI increased 1.9% y/y in the second quarter versus 2.2% expected and 2.1% in the first quarter. The quarterly gauge also fell short of expectations, rising 0.2% versus 0.4% forecasted.
Meanwhile, the trimmed mean measurement came in at 1.8% y/y, in line with expectations and unchanged from the first quarter (the original 1Q reading was revised down from 1.9%). This statistic aims to get an underlying inflation trend by excluding those components of the index with unusually large gains and losses.
More is to come from the economic docket that may continue to stir Aussie Dollar volatility. RBA Governor Philip Lower will present a speech at 3:05 GMT. Last week, Deputy Governor Debelle pushed back against speculation that the RBA's estimation of a 'neutral rate above 3% hints at imminent tightening. Senior Currency Strategist Ilya Spivak mentioned that Lowe's speech .
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