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Will the Reserve Bank of Australia lower interest rates next month? AUD/USD is under pressure.
On Wednesday (January 29), ahead of the European market open, the AUD/USD has fallen for the third consecutive Trading day, mainly due to the latest Consumer Price Index (CPI) data from Australia being below market expectations. In Q4 2024, the Australia's CPI increased by 0.2% quarter-on-quarter, remaining the same as the previous quarter, but failing to reach the market expectation of 0.3%. Meanwhile, the year-on-year growth rate of CPI dropped from 2.8% (Q3) to 2.4%, also below the market's general forecast of 2.5%. In addition, the monthly CPI in Australia for December 2024 increased by 2.5% year-on-year, matching market expectations, higher than 11.
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