The latest data from the New York Fed showed that US consumer inflation expectations for 2023 increased to 5.9% in October from 5.4% in September, after three consecutive months of a slowdown. The median expected change in gas prices rose by 4.3% to 4.8%, the biggest one-month jump on record. Expectations about year-ahead price changes rose by 0.7% for food (to 7.6%) and 0.1% for rent (to 9.8%). The median expected change in the cost of medical care was unchanged at 9.2%, while the median expected change in the cost of college education declined by 0.4% to 8.6%. Meanwhile, median home price growth expectations were unchanged at 2.0%, the lowest reading since July 2020.
AUDUSD pair is testing the key resistance zone around 0.6700 which is marked with previous price reactions and downward trendline. Should a break higher occur, an upward move may accelerate towards the next major resistance at 0.6900. On the other hand, if sellers manage to regain control, then another downward move towards support at 0.6475 may be launched. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.