At this time, the AUD/USD is supported by the Australian morning statistics, as well as yesterday's intervention in China.
The Australian dollar on Wednesday afternoon continues to grow in tandem with US counterpart. The current quote in the AUD/USD pair is 0.7039. The Ozzy is subsequent moving away from the area of local minima.
This morning, Australia presented statistics on inflation in the fourth quarter of last year. Thus, the consumer price index for the period rose by 0.4% against 0.5% growth in the first quarter. The observed growth rates of inflation were slightly above forecast levels. With this Australian base inflation at the end of 2015 was 0.6%, exceeding expectations of half a percentage point.
The base value is a kind of an average median value, so to completely rely on this record is hardly necessary. Moreover, it is free from volatile commodity groups, which is not very informative.
The y/y inflation rate for the fourth quarter increased by 1.7% versus a gain of 1.5% in the third quarter. The components of the report show that the main slump in prices has come - which is natural - on raw materials and energy. Inflation growth is required to increase the prices of excise goods - tobacco products including, as well as the tourism segment.
Closer to the second half of the day the growth momentum in the AUD/USD pair may subside - investors will go into a state of waiting in anticipation of the completion of the two-day meeting of the US Federal Reserve. Until Thursday morning news on this side will be the most important for the currency market.
RoboForex Analytical Department
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