Snapshot: AUD/USD is trading at 0.6910, up 0.10% on the day. The Reserve Bank of Australia’s hawkish hold stance, underscored by elevated inflation and explicit optionality to hike further, remains the dominant domestic driver. Today’s catalyst is the US PCE data release at 08:30 ET.
- RBA’s hawkish hold bias, with CPI above target and no cut discussed.
- Watch for US PCE and Final GDP prints at 08:30 ET for broader USD direction.
Bias into NY: The AUD should find support from the RBA’s firm stance, but today’s US PCE data is the key arbiter. A stronger-than-expected print would likely see AUD/USD pressured back towards 0.6880.