The Australian dollar was little changed against its US counterpart today, fell against the euro and climbed versus the Japanese yen. Economists are worried that tomorrow’s report will show Australia’s inflation sliding to the slowest growth in 13 years.
Analysts predict that the Australian Consumer Price Index will be at 2.2 percent on an annual basis. That would be near 2.0 percent of the previous quarter, which was the slowest rate since June 1999. On quarter-over-quarter basis, the index is expected to accelerate from 0.5 percent to 0.9 percent.
The euro’s gains against the Aussie followed the regional elections in Spain that pushed the shared European currency higher against all other majors. As of the yen, the Japanese currency was threatened by an intervention from the central bank.
AUD/USD was near the opening level of 1.0318 as of 21:52 GMT today. EUR/AUD rose from 1.2613 to 1.2646, touching the daily high of 1.2667. AUD/JPY went up from 81.18 to 82.54, the highest close since September 17.
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