Australian Dollar drops as hot US CPI strengthens Fed higher-for-longer outlook

Australian Dollar drops as hot US CPI strengthens Fed higher-for-longer outlook

The AUD/USD pair fell toward the 0.7220 region on Tuesday after hotter-than-expected United States (US) inflation data boosted the US Dollar (USD) and reinforced expectations that the Federal Reserve (Fed) may keep interest rates elevated for longer. The latest US Consumer Price Index (CPI) report showed headline inflation accelerated to 3.8% YoY in April, surpassing […]

United States Consumer Price Index soars in April, US Dollar surges

United States Consumer Price Index soars in April, US Dollar surges

The United States (US) reported that annualized inflation, as measured by the Consumer Price Index (CPI) rose by 3.8% in the twelve months to April, higher than the 3.3% posted in March and above expectations of 3.7%. Core annual CPI, which excludes volatile food and energy prices, came in at 2.8% following a 2.6% print […]