The Aussie Dollar recorded back-to-back positive days against the US Dollar and climbed more than 0.59% on Tuesday, as the US April S&P PMIs were weaker than expected.
AUD/USD extends gains, influenced by disappointing S&P Global PMIs from the US, suggesting possible Fed easing. US Dollar weakens as Treasury yields fall and equity markets respond positively to the potential shift in Fed policy. Upcoming Australia n CPI data could influence the Reserve Bank of Australia 's policy stance. The Aussie Dollar recorded back-to-back positive days against the US Dollar and climbed more than 0.
On a quarterly basis, it is expected to tick higher from 0.6% to 0.8%, while monthly figures are foreseen to remain unchanged at 3.4%. ANZ analysts commented that the Reserve Bank of Australia wouldn’t likely change their stance, noting, “Looking ahead to the next RBA Board decision on 7 May, we don’t think slightly higher inflation than the RBA is expecting will prompt a shift back to an overt tightening bias.
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