AUD/NZD renews intraday low near 1.0690, marking a near 30-pip slump as Australia’s headline inflation data disappoints early Wednesday. As the downbeat Aussie Retail Sales also join the recently weaker Consumer Price Index (CPI) data, the increasing odds of the Reserve Bank of Australia’s (RBA) policy pivot keep bears hopeful. That said, Australia’s Monthly Consumer Price Index dropped to 6.8% YoY in February versus 7.2% expected and 7.4% prior. Although the recent Aussie data favor bears, the market’s cautious optimism allows the AUD/NZD pair to check the bears before giving them control. Behind the risk-on mood ... (full story)