YoY headline 1.8% vs 2.0% est. Trimmed mean 1.8% vs 2.0%

The Australian CPI data for the 3 Q is coming out weaker than expectations.

  • Headline CPI QoQ 0.6% vs 0.8% est. YoY 1.8% vs 2.0% est
  • Trimmed mean 0.4% vs 0.5% est. YoY 1.8% vs 2.0% est
  • Weighted median 0.3% vs 0.5% est. YoY 1.8% vs 2.0% est.
  • Food and non alchoholic beverages -0.9% QoQ
  • Housing +1.9%
  • Transportation unchanged.

The AUDUSD has moved lower after the mss with the pair trading to a session low of 0.7741 so far. The 50% retracement of the move up from the May low comes in at 0.7726. The low for the month of October reached 0.7732. There are swing levels between 0.7730-55 going back to August 2016. The 0.7755 is now close resistance for trading. Stay below is more bearish. The lows from yesterday at 0.7769 is also a risk defining level for traders now.

Sellers are in control.