The Australia CPI, the key measure of inflation, increased by 0.6% in the three months to March 31, bringing the annual rate to 2.9%.
The price of Australian consumer goods and services missed forecasts in the March quarter of 3.2% but still staying within the RBA’s target band of 2% to 3% annual inflation.
Inflation is higher than expected in the December quarter, at 0.8%, with an annual rate of 2.7%.
AUDUSD accordingly drop down from 0.9370 and is trading lower 0.93 now. Downtrend is expected to continue.