{"id":40301,"date":"2023-01-11T06:54:00","date_gmt":"2023-01-11T06:54:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=40301"},"modified":"2023-01-12T10:59:36","modified_gmt":"2023-01-12T10:59:36","slug":"morning-brief-australian-inflation-ramps-up","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/morning-brief-australian-inflation-ramps-up\/","title":{"rendered":"Morning Brief – Australian inflation ramps up"},"content":{"rendered":"\t\t
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The Australian dollar moved higher against the US dollar this morning after the Australian Monthly Consumer Price Index indicator for the month of November came in at 7.3% year on year versus the prior 6.9%.<\/p>

A gradual move higher was seen for the AUDUSD<\/a> pair as it gravitated above the 0.6900 level. A number of other economic releases also came from the Australian economy today.<\/p>

Breaking down the report, the most significant price rises were Housing (+9.6 percent), Food and non-alcoholic beverages (+9.4 percent), Transport (+9.0 percent), Furniture, household equipment, and services (+8.4 percent), and Recreation and culture (+5.8 percent).<\/p>

ANZ bank said about the CPI inflation report \u201cMonthly CPI rose to 7.3% y\/y ahead of electricity impacts. These results reduce any risk of a Feb pause for the RBA and reinforce our view that the peak cash rate will be at least 3.85%.\u201d<\/p>

And \u201cThe monthly numbers only include updated prices for between 62 and 73 percent of the weight of the quarterly CPI basket; thus they are incomplete and its rightly so that the quarterly CPI is the most focus.\u201d<\/p>

Also this morning Australia’s retail sales jumped 1.4% m\/m in Nov, and Oct was revised up from -0.2% to +0.4%. This was a strong result, but weaker than the growth in Nov 2020 +6.1% month on month and +6.4% month on month.<\/p>

ANZ bank commented on the jobs data \u201cjob vacancies stayed very strong at 444,200 in November. Despite falling on the quarter they did remain historically high, yes. \u201c<\/p>

Traders now await the CPI report from the US and JP Morgan<\/a> are expecting higher numbers and say, \u201cthe December monthly and Q4 quarterly CPI will be published prior to the February meeting\u201d.<\/p>

They note that \u201cOur scenario analysis is skewed bullishly based upon positioning that could cause an overreaction via short covering on a dovish print.\u201d<\/p>

However, if the CPI is higher than 6.6 percent JP Morgan the number would be \u201cexpected to hit risky assets with bond yields rising along the curve.\u201d<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The Australian dollar moved higher against the US dollar this morning after the Australian Monthly Consumer Price Index indicator for the month of November came in at 7.3% year on year versus the prior 6.9%. A gradual move higher was seen for the AUDUSD pair as it gravitated above the 0.6900 level. A number of […]<\/p>\n","protected":false},"author":4,"featured_media":40303,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[52,421,101],"yoast_head":"\nMorning Brief - Australian inflation ramps up - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/morning-brief-australian-inflation-ramps-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Brief - Australian inflation ramps up Morning Brief - Australian inflation ramps up\" \/>\n<meta property=\"og:description\" content=\"The Australian dollar moved higher against the US dollar this morning after the Australian Monthly Consumer Price Index indicator for the month of November came in at 7.3% year on year versus the prior 6.9%.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/morning-brief-australian-inflation-ramps-up\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-11T06:54:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-12T10:59:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/01\/GettyImages-686017348.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"751\" \/>\n\t<meta property=\"og:image:height\" content=\"426\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morning Brief - 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