Australia is about to print inflation data for the third quarter! Australian CPI Event Guide for Q3 2024 suggests we may see cooler price pressures compared to the previous quarter as commodity prices (but mostly oil) and average input costs eased while inflation expectations eased in the previous months. If inflation declines significantly as markets expect, at least some members of the Reserve Bank of Australia (RBA) may be convinced to shift to a more dovish stance. A more cautious outlook could reduce the Australian dollar’s advantage against its major counterparts.
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