AUD/USD flows: Monthly CPI Lower Than Estimates

Australian November CPI continue to moderate as we forecast to 4.3% y/y from 4.9%, just shy of 4.4% expected. While monthly CPI is not a s comprehensive as the quarterly CPI, it provides us with a good direction of where Q4 CPI is heading, which is a resumption to the previous downtrend after an energy led spike in Q3. Regional equities have reversed early optimism to trade close to unchanged while commodity prices remain steady. 

AUD/USD is 0.24% higher at 0.6702.