- AUD / USD continues to fluctuate below 0.7300 on Thursday.
- The US Dollar DXY Index fell below 93.00 during the European session.
- The annual core CPI in the US is expected to reach 1.8% in October.
The pair AUD/USD it closed practically unchanged below 0.7300 on Wednesday and was down slightly during the first half on Thursday. But nevertheless, after hitting a fresh six-day low at 0.7247, the pair has recovered a portion of its daily losses and it is trading, at the time of writing, at 0.7276 losing 0.04% on the day.
Data from Australia on Thursday showed that consumer inflation expectations in November rose to 3.5% and exceeded the market expectation of 3.2%. However, the market reaction to this data was relatively subdued.
Meanwhile, major European stock indices post modest losses on Thursday and S&P 500 futures are down 0.1%, reflecting cautious market sentiment making it difficult for the risk-sensitive AUD to find demand.
The focus shifts to the US CPI data.
In the second half of the day, the US Bureau of Labor Statistics will release the CPI consumer price index data for October. The investors expect the core CPI to rise to 1.8% from 1.7% in September. However, the Federal Reserve is using the PCE personal consumption expenditure price index as its preferred indicator of inflation and market participants are likely to ignore the CPI figures unless there is a large divergence.
In addition, the Department of Labor will also publish your weekly data on initial jobless claims.
Credits: Forex Street
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