AUD/USD Holds Steady Ahead of RBA Hike and US Inflation Data

AUD/USD has fallen for three consecutive weeks, but it's holding steady at around 0.70 ahead of the Reserve Bank of Australia (RBA) decision and Australian Consumer Price Index (CPI). The RBA hike is widely expected, and the rate statement and press conference may provide clues on what comes next.

The AUD/USD pair will also be influenced by US economic data, including the Personal Consumption Expenditures (PCE) inflation reading, ISM manufacturing, and nonfarm payrolls. The RBA commentary last week leaned hawkish, making tomorrow's RBA call a clear hike.