Much lower than expected PPI figures (+1.4% YoY against an expected +2.2%) and if tomorrow’s CPI comes in anything like this, we’ll be talking about 50bps rather than 25bps rate cuts!
The AUD/USD has fallen 20 pips on the news
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Australian Q1 PPI -0.3% Vs +0.3% previously
Australian Q1 PPI -0.3% Vs +0.3% previously
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