The $AUDUSD price pulled back slightly as traders focused on the upcoming interest rate decision by the Reserve Bank of Australia (RBA) and the Fed.
The main catalyst for the AUD/USD price will be the upcoming interest rate decision by the Reserve Bank of Australia. Economists expect that the bank will deliver the second straight 0.25% rate hike as it continues fighting the soaringHowever, some analysts believe that the bank could surprise with a 0.50% hike after last month’s surprising inflation figure.
This inflation was driven by relatively higher oil and gas prices. Trimmed CPI, which excludes the volatile food and energy prices rose to 6.1% in Q3 from 4.9% in the previous quarter.
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