Read more
8:27 AM · 26 July 2023

Chart of the day - AUDUSD (26.07.2023)

  • Lower CPI data weakens the Australian dollar
  • Goldman Sachs predicts a lower target rate for the RBA
  • AUDUSD react to the key level at 0.679

Australian inflation slowed more than expected in the second quarter due to a decline in domestic holiday and gasoline costs, suggesting less pressure for another rate hike and causing a sharp weakening of the Australian dollar.

Annual headline inflation fell to 6.0% in June from 7.0% in March, which was weaker than the 6.2% consensus and the RBA's own 6.3% forecast. Importantly, the RBA's preferred measure - core inflation - the trimmed mean - slowed to 5.9% from 6.6%, which was slightly less than the market and RBA's expectation of 6.0%.

On a quarterly basis, the Australian consumer price index rose 0.8% in Q2, which is the weakest quarterly pace since September 2021. Economists believe this signals a peak in the interest rate cycle, despite a shift in inflation from goods to services. This shift might push the Reserve Bank of Australia (RBA) to raise rates by 0.25 percentage points in August and September. As a result, Goldman Sachs lowered its peak cash rate prediction to 4.6% from 4.85%, and National Australia Bank expects the RBA to leave rates unchanged in August. Current OCR rate is 4.10%.

AUDUSD, H1 interval, source xStation5

4 May 2026, 6:39 PM

Daily summary: Conflict escalates again - indices down, oil up

4 May 2026, 10:17 AM

💶Eurozone Industry: A Fragile Recovery Masking Stagflationary Risks

1 May 2026, 12:35 PM

Three Markets to Watch Next Week: USDJPY, US500, OIL (01.05.2026)

1 May 2026, 11:31 AM

Market Wrap – Data Confirms BoJ Intervention. Waiting for US ISM (05.01.2026)

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits