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Australia’s November CPI comes in at 4.3% YoY vs. 4.4% expected

The latest data published by the Australian Bureau of Statistics (ABS) on Wednesday showed that the nation’s Consumer Price Index (CPI) decelerated from the 4.9% YoY rate to 4.3% in November. The reading was slightly lower than the consensus estimates for a reading of 4.4%. 

Market reaction

The AUD/USD pair reacts little to the monthly data, which does not show all components of the CPI included in the quarterly report. Inflation figures for the October - December 2023 quarter will be published on January 31 2024 and will play a key role in influencing the Reserve Bank of Australia's (RBA) policy decision. 

Japanese real wages tumble 3% despite 0.2% increase in nominal wages

Japanese Labor Cash Earnings in November broadly missed the mark early Wednesday, with nominal wages printing at 0.2% YoY versus the forecast of 1.5%.
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Gold Price Forecast: XAU/USD consolidates around $2,030, awaits US CPI on Thursday

Gold price (XAU/USD) struggles to gain any meaningful traction following the previous day's late pullback from the $2,040 area and oscillates in a narrow trading band during the Asian session on Wednesday.
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