The rate of inflation in Australia went on growing in Q3 2013. At the same time, economists and other financial experts assume that the current inflation figures decrease the probability of the RBA cutting interest rates in the near future.
In turns out that the year-over-year Australian rate of inflation reached 2.2% in Q3 2013. The quarter-over-quarter inflation growth was at 1.2%. The figures came out higher than expected (1.8% and 0.8% respectively).
Meanwhile, according to Masterforex-V Academy, the Australian Dollar keeps retracing from the recent rally against the US Dollar. The experts report that AUDUSD has completed the bullish move represented by wave a(C )/C of level Daily and is no forming a downswing – probably b(C ) of wave level H8.
A further rally (above) will probably encounter resistance around 1.6290/98, 1.6431, 1.6518. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 0.9669 (as shown below).
