The AUD/USD pair posts modest gains around 0.6605 during the early Asian session on Monday.
AUD/USD trades with mild positive bias near 0.6605 on Monday. Fed officials reiteratedon higher-for-longermantra, supporting the USD against its rivals. Australia'sgovernment stated inflation could moderate to theRBA'starget range by the end of 2024, faster than predicted in December. Investors await thekeyUS economic data this week for fresh catalysts, including the Consumer Price Index ,Producer,Price Index , and Retail Sales.
2 in April, weaker than the expectation of 76.0. The one-year inflation outlook jumped to 3.5%, while the five-year outlook rose to 3.1%. Both figures registered the highest level since November 2023. On the Aussie front,Australia’sTreasury said on Sunday that they projected that inflation could return to the Reserve Bank ofAustralia’s target band before the end of 2024. In the December outlook, the officials projected CPI inflation to slow to 3.75% by mid-2024 and 2.
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