AUD/USD Falls to 0.70 as RBA Meeting and CPI Data Loom

The Australian Dollar (AUD) has been under pressure ahead of this week's key events, including the Reserve Bank of Australia (RBA) meeting and the release of Consumer Price Index (CPI) data. The AUD/USD exchange rate is currently trading around 0.70, having fallen for a third consecutive week.

The RBA is widely expected to hike interest rates by 25 basis points, but traders will be looking for clues on future policy in the statement and press conference. Unemployment has risen to 4.65%, which could have been rounded up to 4.7%. The CPI data due on Wednesday may influence expectations of further rate hikes.

In the US, key events include the release of PCE inflation, nonfarm payrolls, and ISM manufacturing data, as well as Fed speakers. These will shape market expectations for future interest rate decisions.