Australian July monthly CPI 3.5 % y/y
The Australian July monthly CPI arrived hotter than expected at 3.5 % y/y. While it continue to moderate from the 3.8% y/y in previous month, the pace of moderation is weaker than expected. Trimmed mean CPI shows no change from June.
AUD/USD is trading 0.3% higher at 0.7185 as anticipation of another RBA hike increases on the hot CPI release.