AUD/USD recovers its recent losses above 0.6300 ahead of Australian PMI

The AUD/USD pair kicks off the new week on a positive note during the early Asian session on Monday. The modest rebound of the pair is supported by a

AUD/USD recovers its losses ground above the 0.6300 mark in early Monday. Fed Chair Jerome Powell and other officials believe rates will stay on hold and may have peaked unless inflation rises. The latest Australian jobs data showed the labor market is easing. Market players will monitor the preliminary Australian S&P Global Composite PMI on Monday. decline in the US Dollar and a correction in the US Treasury Bond yield. The pair currently trades around 0.6320, gaining 0.10% for the day.

695 trillion, 23% larger than the previous year and exceeding all pre-COVID deficits. On the Aussie front, the recent Australian jobs data showed the labor market is easing. The Employment Change fell more than estimated, but the Unemployment Rate data showed a positive by falling more than expected. Markets expected the Reserve Bank of Australia to tighten policy further.

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