The Australian dollar, in tandem with the US dollar, has shifted into positive territory, with the current AUD/USD exchange rate at 0.6701.
The Aussie has rebounded from its four-week low, demonstrating resilience even in the face of recent inflation data indicating a cooling trend in prices.
In November, Australia's Consumer Price Index (CPI) recorded a 4.3% year-over-year increase, showing a deceleration compared to the 4.9% uptick in October. This represents the slowest pace since January 2022.
Despite the slowdown, it seems the Reserve Bank of Australia may not find it necessary to further increase the interest rate, especially given the robust performance of the services sector. The current interest rate stands at 4.35% per annum.