The Australian inflation data rewarded us with 130 pips
Skerdian Meta • 1 min read
The Australian quarterly CPI numbers came out at -0.2% while the expectations were at 0.3%. The trimmed mean CPI missed the expectations as well; they were expected at 0.5% but instead, the number were 0.2%. That hurt the Australian Dollar and it fell about 150 pips overnight. We had a long term sell forex signal in AUD/USD which we opened around 0.7750s, so we just closed it for a nice 130 pip profit.
AUD/USD tumbled nearly 150 pips after the inflation data for the first quarter missed the expectations