- May PPI +6.8% YoY
- Industrial output +13.3%
- Retail sales +16.9%
The headline CPI figure is slightly higher than the 5.4% forecast but less than the feared 5.8%. The market had already sold the AUD on the back of a possible inflationery number and now is buying back those shorts.
AUD/USD is now back to where it started the day at 1.0605 and EUR/USD has also regained most of its earlier losses, currently sitting at 1.4410.