Impact of CPI on AUDUSD and other pairs – how do you interpret short-term?
Hey everyone, fairly new to actively trading around economic data releases. I'm trying to get a handle on how much weight to give certain indicators. I've been watching the $AUDUSD lately, saw it drop today to around 0.68915 after the recent inflation data, which I know influences central bank decisions.
My question is, when CPI comes out, and it's either higher or lower than expected, do you experienced traders mostly focus on the immediate price action and potential reversals, or are you looking at a longer-term narrative? I understand the theory of how inflation impacts interest rate expectations and currency strength, but in practice, for day-to-medium swing trades, how do you filter out the noise from a true signal right after a major report? Especially when you see a whipsaw reaction before it settles into a trend. What's your approach to using these high-impact announcements without getting caught in the initial volatility?
Honestly, trying to trade the immediate CPI release is a coin toss for me. I prefer to see the market reaction over the first hour or two and then look for confirmation of a new short-term trend. The volatility can be brutal.