Yes

>>Australian Dollar Climbs Sharply After CPI Figures; Spotlight Turns to Trump's Pivotal State of the Union Speech

Australian Dollar Climbs Sharply After CPI Figures; Spotlight Turns to Trump's Pivotal State of the Union Speech

crypthub

about 7 hours ago

AUD Gains on Strong CPI

The Australian Bureau of Statistics reported January CPI up 0.8% MoM, annual 3.4%, beating forecasts. The higher inflation lifted the AUD to 0.6585/USD in early Asian trading. The surprise reduces expectations of imminent RBA rate cuts.

RBA Stance Amid Persistent Inflation

The Reserve Bank kept its cash rate at 4.35% and paused for a third meeting. Governor Bullock stressed commitment to a 2‑3% inflation target despite global uncertainty. Market odds of an April cut fell to about 15%, down from 35%.

Global Focus on Trump’s State of the Union

Former President Trump’s March 1 address is expected to shape US trade, fiscal and energy policies. Currency markets watch such speeches because they can move the dollar and impact risk‑sensitive pairs like AUD/USD. Past US addresses have triggered 20‑30% volatility spikes in the 24‑hour aftermath.

Technical Outlook and Supporting Factors

AUD/USD broke the 0.6550 resistance and eyes the 0.6620 50‑day moving average, while RSI at 62 hints at overbought pressure. Leveraged funds added 12,000 long contracts, showing institutional confidence. A strong current‑account surplus, robust commodity exports and higher interest‑rate differentials further back the Aussie.