The consumer price index in Australia fell to -0.2%
Today has been published statistics on the consumer price index in Australia, which fell to -0.2% in Q1, against the forecast of 0.3%, and the previous value of 0.4%. The fall in inflation in the country stimulates the Reserve Bank of Australia to lower interest rates from the current level of 2.0%. Such a step will lead to a decrease in the Australian dollar. It is worth noting the growth of the probability of correction in commodity markets in the coming weeks, which will be also negatively displayed on the Australian dollar. We forecast a drop in prices in the near future and medium term with targets at 0.7400 and 0.7240.
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