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Currency Market Analysis

Sep 14, 2021 | Currency Market Analysis

Global Themes

AUD higher ahead of US CPI

• AUD gains in most markets
• US shares boost sentiment
• US CPI in focus

AUD helped as US shares rebound

The AUD was higher in most markets overnight in cautious trading ahead of tonight’s key US inflation numbers.

US sharemarkets also shook-off a recent losing streak with the benchmark Dow Jones up 0.8%.

Aussie higher

The AUDUSD gained 0.2%.

The AUDEUR climbed 0.2% while the AUDJPY was up 0.4%.

The AUDNZD rebounded from 20-month lows to gain 0.2%.

The AUDCHF was the strongest, up 0.8%, as the Swiss franc underperformed.

US inflation

All eyes are on tonight’s US inflation reading.

The headline number is expected at 5.3% while the core number is forecast at 4.2% -- both numbers are a small drop from last month’s results.

A higher number tonight could cause markets to look ahead to a reduction in the US’s bond-buying program and pressure the AUDUSD.

US CPI is due at 10.30pm AEST.

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