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Forex

AUD Strengthens Ahead of RBA Speech, Consumer Price Reports

Guavy AI Editorial Team
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USD AUD
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The Australian Dollar (AUD) has strengthened in early trading on Tuesday, hovering around 0.6990 against the US Dollar (USD). This move comes as investors await Reserve Bank of Australia (RBA) Governor Michele Bullock's speech later in the day.

Lingering concerns over high inflation are keeping investor sentiment cautious ahead of Australia's June and Q2 consumer price reports, due on Wednesday. These reports will provide insight into the country's economic health and could influence the AUD/USD pair.

The US Dollar (USD) is also stabilizing, driven by market caution before the Federal Reserve's upcoming policy decision, scheduled for Wednesday. According to the CME FedWatch Tool, this decision may have a significant impact on currency markets.

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