The Reserve Bank of Australia (RBA) published data on its producer price index (PPI) this morning revealing solid inflationary growth. Expectations for the quarterly figure were for a mild 0.7% on both the nominal reading and its trimmed mean (i.e. core) counterpart.
Actual results from the morning’s data, however, underscored the growth experienced in the Pacific economies of Australia and New Zealand recently. The data produced solid 0.9% growth on the two indices, climbing above forecasts and helping the Australian dollar (AUD) hold steady in early morning trading.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
