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Forex & Equities: Aussie Inflation Subdued & Session Ranges

Posted by Akhilesh Ganti on Apr 22, 2014 10:59:00 PM

Australia's Consumer Price Index for the first quarter was lower than market forecasts leading traders to pare down expectations for rate hikes by the RBA later this year. AUD/USD, which had been trading at 0.9375 in anticipation of a higher number, promptly fell by about 50 pips to 0.9325 and has subsequently traded below 0.9300. China's HSBC Manufacturing PMI for April came out at 48.3 which was in line with analyst estimates and slightly higher than last month's reading of 48. While this is mildly encouraging, the fact that it is still below 50 implies that all is not well with Chinese economic growth.

Economic Data - {Source: Bloomberg}

Country Event Period Survey Actual Prior Revision
Australia CPI QoQ 1Q 0.80% 0.60% 0.80% --
Australia CPI YoY 1Q 3.20% 2.90% 2.70% --
Australia CPI Trimmed Mean QoQ 1Q 0.70% 0.50% 0.90% --
Australia CPI Trimmed Mean YoY 1Q 2.90% 2.60% 2.60% --
Australia CPI Weighted Median QoQ 1Q 0.70% 0.60% 0.90% --
Australia CPI Weighted Median YoY 1Q 2.90% 2.70% 2.60% 2.50%
China HSBC China Manufacturing PMI Apr P 48.3 48.3 48 --

Ranges:{WWM's New ALPHA Trader-DAILY charts [EUR, GBP, AUD, YEN, GOLD, OIL, DXY]}(click to enlarge)

FX 042314

Equities:{WWM's New ALPHA Trader-4 HOUR charts [Dow30, SP500, Nasdaq100, Japan225, China, Nifty50, FTSE100, ASX200]}(click to enlarge)

STOCKS 042314


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