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AUD to USD Forecast: Aussie Inflation Data Pivotal for RBA Interest Rate Outlook
On Friday, April 26, producer prices from Australia will influence buyer appetite for the AUD/USD. Economists forecast producer prices to increase 2.6% year-on-year in Q1 2024 compared with a 4.1% increase in Q4 2023. Additionally, economists expect producer prices to rise by 0.6% in Q1 after advancing by 0.9% in Q4. Hotter-than-expected producer prices could raise speculation about an RBA interest rate hike. Producers increase prices in a higher-demand environment, passing costs onto consumers. In Q1, consumer price inflation numbers were higher than forecasts, influencing sentiment toward the RBA rate path. The ... (full story)