AUD/USD turns green in the day trades with gains of 0.17% after hitting a daily low of 0.6270, but upbeat growth data from the United States (US) bols
AUD/USD rebounds from 0.6270 to 0.6316, with Aussie showing resilience against the Greenback. US GDP growth at 4.9%, and durable goods orders surge, setting the stage for a Fed rate hike. Inflation figures and RBA Governor's comments increase Australia's likelihood of a rate hike. tered the Greenback , a headwind for the Aussie . Nevertheless, the Aussie’s remained strong as the pair exchanges hands at 0.6316.
The latest remarks by the RBA’s Governor Michelle Bullock have faded those assumptions, saying the Consumer Price Index report was in line with policymakers' expectations, while they assess the chances that would warrant a rate hike. Ahead of the week, the Aussie’s economic docket will feature the PPI for the third quarter. On the US front, the Fed’s preferred gauge for inflation, the Core PCE, will be revealed, along with the Consumer Sentiment of the University of Michigan.
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Australian Dollar Technical Outlook: AUD/USD, AUD/JPY, EUR/AUD Setups Ahead of Inflation DataAustralian Economy has been showing signs of resilience with labor data remaining strong. Governor Bullock delivers hawkish message in first speech underpinning the AUD ahead of inflation data tomorrow. Lets us take a look at potential trading setups
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