The AUD/USD price soared to the highest level since June 10th of this year after the latest American consumer inflation data.
Enter your emailThe pair will likely continue rising as buyers target the next key resistance point at 0.7200.Timeline: 1-2 days.soared to the highest level since June 10th of this year after the latest American consumer inflation data.Trade AUD/USD NowThe AUD/USD price jumped sharply after the US consumer inflation data. According to the Bureau of Labor Statistics , the headline CPI dropped from 1.3% to 0.0% in July. This decline translated to a year-on-year increase of 8.
Inflation dropped because of the falling oil prices. Brent and West Texas Intermediate has dropped from the year-to-date high of over $135 to below $100. At the same time, gasoline prices declined from the year-to-date high of $5 to a low of $4.
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