AUD/USD flows: Headline CPI Moderates, not Core

Australian Headline April y/y CPI moderates to 4.2% from 4.6% but RBA preferred trim mean y/y CPI rose to 3.4% from 3.3%. It continues to point towards strong inflationary pressure but not enough to persuade the RBA to hike the 4th time in a row.

Without strong support from the indecisive risk mood, AUD/USD is trading 0.09% lower at 0.7160.