AUDUSD Crashes Below Key Support Level After Soft Australian Inflation Data

AUDUSD plummeted below 0.6965 after Australia's Consumer Price Index (CPI) data came in softer than expected, putting renewed pressure on the Australian dollar.

The headline CPI rose 4.0% year-over-year, below the forecasted 4.1%, although inflation accelerated from the previous 3.5% reading.

However, monthly CPI increased only 0.4%, missing expectations of 0.5%, and slowing significantly from the previous 1.0% increase.

Trimmed Mean CPI eased to 0.2% month-over-month, below the forecasted 0.3%, signaling weaker underlying inflation momentum.