AUD a little lower after encouraging, falling, inflation data

<p>The latest official CPI data from Australia was very welcome indeed, showing sharp falls for both headline and core inflation rates:</p><ul><li><a href="https://www.forexlive.com/news/australian-q4-headline-cpi-41-yy-vs-43-expected-20240131/" target="_blank" rel="follow" data-article-link="true">Australian Q4 headline CPI 4.1% y/y vs 4.3% expected</a></li></ul><p>The Reserve Bank of Australia target is 2 to 3%, so we are not there yet, but given the peak CPI rate was close to 8% this result is much improved. </p><p>The RBA meet on February 5 and 6, its almost certain it'll be an on hold decision. </p><p>AUD/USD dropped a little:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.