Forex
AUD/USD Price Stagnant After RBA Rate Hike Amid Expectations of Further Interest Rate Increases
The AUD/USD pair experienced increased volatility following the Reserve Bank of Australia's (RBA) rate hike announcement, but the price has remained stagnant, indicating indecision among market participants.
With both the RBA and Federal Reserve now tipped to raise interest rates again before the end of the year, key domestic and U.S. economic data later this week could drive the AUD/USD's next move.
The Australian Bureau of Statistics' (ABS) release of CPI data for August on Wednesday may spark buying in the pair if readings are hotter than expected, adding fuel to the fire of an already hawkish RBA.