Economic calendar in Asia Wednesday, 29 May 2024 - Australian monthly inflation data ...Middle East

The April Monthly CPI Indicator from Australia is the feature item on the data agenda today. Last month the March data was a bit of a nasty surprise for the RBA, coming in above expectations. The monthly reading is not expected to fall back too much, at around 3.4% y/y. Any upside surprise to inflation will once again rekindle thoughts about the RBA rate path ahead and the likelihood of delaying rate cuts again. More certianty will come from the quarterly data not due until the end of July (see below).A higher reading should support AUD, at the margin, while a lower reading should do the opposite. -The monthly CPI data from Australia does not show all components of the CPI, that'll have to w

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