Australia’s inflation report for Q1 2012 surprised everyone. The rate of inflation gained 0.1% versus Q3 2011 and 1.6% versus Q1 2011.
The inflation slowdown is a major factor for the RBA to consider when making its interest rate decision in early May. The central bank will probably have to lower the interest rate in order to hold the rate of inflation within the 2-3% range.
Forex.
According to , the Australian Dollar keeps losing its value against its US counterpart. AUDUSD is forming wave А(С) or shortened С of wave level Н16 inside the long-term downtrend. A break below 1.0225 will continue the downtrend. The closest major level of support is located at 1.0120. A break above 1.0383 will complete the current bearish wave.
