🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Forex - Aussie up as investors await Australia Q2 CPI

Published 07/21/2015, 08:19 PM
Updated 07/21/2015, 08:20 PM
Aussie up a tick ahead of China PMI, local CPI
USD/JPY
-
AUD/USD
-
DX
-

Investing.com - The Australian dollar ticked higher on Wednesday as investors looked ahead to consumer prices.

AUD/USD traded at 0.7422, up 0.03%, while USD/JPY changed hands at 123.84, down 0.03%.

In Australia, the June Westpac-MI Leading Index is due at 1030 Sydney time (0030 GMT) followed by second quarter CPI data at 1130 (0130 GMT).

The May Westpac-MI outcome disappointed with a fall in a growth rate and according to Westpac the latest update looks likely to show a further easing in the growth pulse.

For CPI, the headline is expected to rise 0.8% quarter-on-quarter from 0.2% in the first quarter mainly on fuel prices but underlying inflation is expected to remain subdued at 0.6%.

At 1305 Sydney (0305 GMT) where RBA Gov Glenn Stevens is due to make a speech at the Anika Foundation luncheon.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.05% at 97.37.

Overnight, the dollar pushed lower against a basket of other major currencies on Tuesday, as investors continued to lock in profits from the greenback's recent rise to three-month highs as expectations for a U.S. rate hike in the near future still supported the currency.

Trading volumes were expected to remain light with no major U.S. data to be released throughout the day.

The dollar remained supported after Federal Reserve Chair Janet Yellen said last week that the Fed is likely to raise rates "at some point this year."

The single currency found mild support after Greek banks reopened on Monday, following a forced 3-week closure, while restrictions on cash withdrawals remained in place.

Also Monday, Greece repaid the totality of its arrears of about €2.0 billion to the International Monetary Fund. "Greece is no longer in arrears to the IMF," the Fund's spokesman Gerry Rice announced on Monday.

"The Fund stands ready to continue assisting Greece in its efforts to return to financial stability and growth," Rice added.

The Greek Parliament was scheduled to vote on further austerity measures on Wednesday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.