The AUD/USD pair kicks off the week in a positive mood below the mid-0.6300s during the early Asian session on Monday. The softer US Dollar (USD) lend
AUD/USD holds positive ground around 0.6339 in early Monday. US Core PCE eased to 3.7% YoY vs. 3.8% prior, the headline PCE remain unchanged at 3.4%. Markets anticipate the Reserve Bank of Australia to raise the cash rate at its meeting on November 7. The Fed rate decision this week will be a closely watched event. s some support to the pair. However, rising geopolitical tensions in the Middle East might trigger risk-aversion in the market and drag riskier assets like the Australia Dollar lower.
On the other hand, the recent Australian inflation figures were in line with policymakers' expectations and the markets anticipate the Reserve Bank of Australia to raise the cash rate by 25 basis points to 4.35% in its meeting on November 7. RBA Governor Michele Bullock commented last week that CPI was a little higher than expected, but it was about where we thought it would come. Bullock further stated that the central bank aims to slow the economy without tipping it into recession.
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