AUD/USD tracking a little higher despite a beat for CPI data

The data is here from earlier today:

• Australian November CPI 4.3% y/y (expected 4.4%)

There are plenty of caveats about the monthly CPI numbers from Australia, I won’t go over them again, they are in that linked post.

But, after all the back and forth the impact of the data is, at the margin, to lower the prospect of a rate hike at the next Reserve Bank of Australia meeting on February 5 and 6. “Yes, but …” you say … check out that linked post for the caveats, like I said.

Anyway, regardless of my ‘less likely Feb rate hike’ the Australian dollar is higher. Not by a lot, and other FX has also gained against the USD (except for the yen, going through a ‘hapless yen’ slide today):

This article was written by Eamonn Sheridan at http://www.forexlive.com.