AUD Surges as Australia's Inflation Rate Beats Expectations

The AUD/USD currency pair is gaining attention as volatility picks up and high-impact economic data releases start to influence expectations.

Australia's inflation data released earlier today showed a weaker-than-expected fall to 3.5% from 3.8%, which is a hawkish surprise, making a future interest rate hike more likely.

This news has boosted the price of the Aussie, sending it higher against almost all other currencies.

The US Dollar is trading sideways ahead of highly important economic data releases today, including the inflation indicator Core PCE Price Index. If higher than expected, it will boost the USD; if lower, it will send it lower.