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Australia's June CPI rose 3.8% year-over-year per the ABS, coming in below both the prior reading and consensus of 4.0%, with housing (+6.8%) driven by electricity and new-build costs remaining the largest contributor. The downside surprise eases pressure on the RBA to deliver an additional rate hike, which weighs on AUD and Australian bond yields while marginally supporting global risk appetite as another major central bank moves closer to the disinflation camp. Watch the RBA's next policy meeting and whether the quarterly trimmed-mean CPI confirms the cooling trend, since sticky services and housing inflation could still keep a hike on the table.
As a Macro signal, watch whether it changes price action, volatility, or flows around AUDUSD=X.
Original Source: 연합인포맥스
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