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- The Australian Dollar recovers daily losses after the release of Consumer Inflation Expectations on Thursday.
- Australia’s Consumer Inflation Expectations increased to 4.2% in December from the previous 3.8% rise.
- The US Dollar Index (DXY) marked 108.28, the highest level not seen since November 2022, on Thursday.
The Australian Dollar (AUD) pares daily losses following the release of Consumer Inflation Expectations on Thursday. However, the AUD/USD pair declined as the US Dollar (USD) appreciated as the Federal Reserve (Fed) delivered a hawkish cut of 25 basis points (bps) at its December meeting on Wednesday, bringing its benchmark lending rate to a range of 4.25%-4.50%, a two-year low.
Australia’s Consumer Inflation Expectations rose to 4.2% in December from 3.8% in the previous month, marking the highest level since September. However, the AUD struggles due to the increased likelihood that the Reserve Bank of Australia (RBA) will cut interest rates sooner and more significantly than initially expected. However, future decisions will be data-driven, with evolving risk assessments guiding the RBA’s approach.
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