Updates to China’s Consumer Price Index (CPI) may fuel a larger rebound in AUDUSD as the headline reading for inflation is expected to pick up for the third consecutive month. A CPI reading of 2.7% or higher may instill an improved outlook for the Asia/Pacific region even though the U.S. and China, Australia’s largest trading partner, struggle to reach a trade deal, and signs of a resilient economy may spark a bullish reaction in the Australian dollar as it encourages the Reserve Bank of Australia (RBA) to keep the official cash rate (OCR) on hold at the next meeting on July 2. However, a below-forecast CPI print may ... (full story)