A prime example is the recent Australian dollar CPI print, which underscored the importance of being alert to central banks' shifts in stance—like the Reserve Bank of Australia's move to a more neutral position. This shift indicated potential two-way opportunities, a scenario that played out with the AUD/NZD pair when the CPI data came in stronger than expected.
Given that the base case from the ECB is for rate cuts in June, any deviation in these figures—especially if inflation or GDP ticks higher—could adjust market expectations and potentially offer trading opportunities, especially against pairs like the EUR/GBP. As the week progresses, attention will turn to the U.S., with consumer confidence and the manufacturing PMI on the agenda.
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