Australia is about to release its inflation report for October, and if last week’s figures are anything to go by, we might witness a rise in consumer price pressures for this month.
Our insights into the upcoming CPI data suggest that inflation could have remained stubbornly high in October. However, Aussie traders have a history of selling the news after a period of buying on speculation, so don’t count out the chance that inflation figures might unexpectedly fall short.
If the CPI turns out to be unfavorable for the Aussie dollar, we could see setups in currency pairs like GBP/AUD and AUD/CHF that might benefit those betting against the AUD.
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