Australian monthly CPI cools a little - AUD/USD little changed

Data here:

• Australian monthly CPI inflation (October 2022) 6.9% y/y (expected 7.4%)

6.9% is significantly lower than what was expected and what was recorded in September.

The trimmed mean measure is 5.3% for October, also significantly lower than the expected 5.7% and unchanged from September's 5.3%.

AUD/USD wobbled but is now not a lot changed. 1 minute bars to give you a pic of the response:

The Reserve Bank of Australia target band for core inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is 2 to 3%. We are way above that of course but the unchanged core reading at 5.3% will encourage the Bank to continue with its slower pace of rate hikes. A +25bp rate hike is the market expectation for December. The Dec meeting is on the 6th. See you Tuesday!