The Australian inflation data rewarded us with 130 pips - Forex News by FX Leaders

The Australian inflation data rewarded us with 130 pips

Posted Wednesday, April 27, 2016 by
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

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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