AUD/USD Retreats from Intraday Gains Ahead of Australian CPI and Fed Decision

Australian Dollar (AUD/USD) retreated from its intraday gains on Monday as investors prepared for key economic releases, including Australian inflation data and the Federal Reserve's interest-rate decision.

The pair dipped to 0.6990 after briefly rising to 0.7011 during the Asian session, still up from Friday's close.

The improvement in market sentiment was attributed to a pause in hostilities between the US and Iran, leading to a sharp decline in Oil prices and a relief rally across global stock and bond markets.

West Texas Intermediate (WTI) Oil traded near $83.70 per barrel, falling over 7% and easing concerns about elevated energy costs generating additional inflationary pressure.