AUD/USD kicked off the new trading week on the back foot, intensifying its selling momentum and revisiting the 0.6760 region to hit new three-week lows.
AUD/USD extended its decline to three-week lows near 0.6760. The US Dollar alternated gains with losses near recent tops. Australia ’s Inflation Gauge rose by 0.1% in September.
Indeed, the RBA is expected to be among the last of the G10 central banks to lower rates, potentially cutting later this year to address sluggish economic activity and easing inflation pressures. Even though Federal Reserve rate cuts are already factored in, AUD/USD could see additional gains in 2024. However, uncertainties persist regarding China's economic outlook and the implementation of its stimulus efforts. Domestically, the Inflation Gauge rose by 0.
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