The Australian dollar (AUD) ended its three-day winning streak on Monday. The AUD/USD pair received bullish support, mainly buoyed by favorable Chinese PMI data released over the weekend. However, the US dollar (USD) continues to show resilience following the moderate economic data released on Friday.
Australia's TD Securities inflation data (year-on-year) shows inflation expectations for September are lower than August figures. The Reserve Bank of Australia (RBA) expects interest rates to remain unchanged at its monetary policy meeting on Tuesday. However, Australia's Consumer Price Index (CPI) showed an improvement in the month compared to July, which may be due to higher energy prices. Rising inflation could influence the RBA's policy decisions.
Australia's TD Securities inflation data (year-on-year) shows inflation expectations for September are lower than August figures. The Reserve Bank of Australia (RBA) expects interest rates to remain unchanged at its monetary policy meeting on Tuesday. However, Australia's Consumer Price Index (CPI) showed an improvement in the month compared to July, which may be due to higher energy prices. Rising inflation could influence the RBA's policy decisions.
🟢TP: 0.6360
🔴SL: 0.6270