The latest data from the Australian Bureau of Statistics reveals a 3.5% increase in the Consumer Price Index (CPI) for the year up to July. This marks a slight decrease from the 3.8% growth recorded in June, falling just below the market forecast of 3.4%.
Market Response to Australia’s CPI Inflation
Following the announcement, the AUD/USD pair experienced a 0.10% decline, with the pair currently trading at 0.6785.
Australian Dollar Price Today
The table below illustrates the percentage changes of the Australian Dollar (AUD) against major currencies, highlighting its weakness against the New Zealand Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.01% | 0.01% | 0.00% | 0.03% | 0.15% | -0.04% | 0.06% |
The heat map displays the percentage changes of major currencies against each other, providing valuable insights for investors.
Analysis and Implications
The moderate growth in Australia’s CPI indicates steady economic conditions, which can impact currency markets. The decline in the AUD/USD pair suggests a cautious market sentiment following the data release.
Investors should monitor further economic indicators to gauge the overall health of the Australian economy and make informed decisions regarding their financial portfolios.