The level of inflation in Australia was around zero. This is confirmed by the results of the recent survey conducted by TD Securities. At the same time, the report indicates zero change in consumer prices over the reporting period, which is March 2016, Market Leader reports.
The level of inflation in Australia (the report is published by TD Securities) is said to be zero percent in March 2016 as compared to February 2016. However, the same index measuring inflation over the last 12 months indicated 1.7% growth. Still, the year-over-year index turned out to be below February’s 2.1%. Still, Masterforex-V Academy experts say that the existing slowdown is something that shouldn’t be something to be surprised about. The rate of inflation has been shy of its 7-month low. At he same time, the inflation target set by the RBA remains within the scope of 2-3%.
Meanwhile, according to the Australian Bureau of Statistics, retail sales showed no change in February. The latest readings happen to be below the previous ones of +0.3% as well as the forecast of +0.4%.
FOREX
Meanwhile, the Australian Dollar remains in the mid-term rally against the U.S. Dollar, Masterforex-V Academy experts report. To be more specific, AUDUSD is forming wave 3/C of level Daily4 inside the rally.
On breaking the 0.7721 high, the currency pair is going to continue the rally. The key levels of resistance are 1.1494, 1.1713. Alternatively, a break below MF pivot 0.7475 and the bottom of the ascending MF sloping channel may well put an end to the bullish bias.
