I posted a preview up earlier this week,
here
For the AUD, a higher than expected result for the CPI should be an AUD positive (reduces the chance of a near term RBA rate cut) and a lower should be an AUD negative (enhances the chance of near term cut). The feel I get from the market is an expectation of a bounce in inflation, and thus a higher AUD … which opens up the likelihood of a shock to the downside if the CPI comes in low today.